I moved funds from a regular taxable IRA to a Roth in two separate accounts resulting in withholding tax which is categorized as an expense. Both transactions hit up in transactions but only one shows up in the P&L report. I am told that this is a Tiller Labs issue. How can I fix this?
@jsimesfl How are the transactions categorized in the Transactions sheet. Are they all "expense"categories… or is the transfer category used for the transfer of funds. I don’t think the Transfer category would make it to your P&L.
Please see below. It sounds like you sold positions to generate cash and then converted the cash with some of the cash being sent in for withholding. Did you withhold for state too? Are you less than 59.5 years old? I would be interested in what analysis or software you used to determine whether the conversion made sense. The analysis is not as easy as some would have you believe. I have seen only one software that does an adequate job. Most tools are simple and simplicity sacrifices accuracy. All the tax withholdings should be an expense on the transactions tab. All expenses should flow to the P&L.
@jsimesfl the P&L will show transfers (heads up on that @warren) and unless they net to $0 they will affect your Profit/Loss figure at the bottom of the report.
Do you need more help here or did you figure out why it’s not showing up?
One thing to keep in mind is that the P&L needs to be re-run every time you make changes to the Transactions sheet that would affect the values in the P&L.
Transfers will not hit the P&L if you hide them on the categories tab which is what I usually do.