ESPP Rollover - Categorizing negative amount

harry askenazi · January 8

I have an ESPP account which I transfer money to within the paycheck wizard, every time I have a post tax deduction. However, I have one paycheck that shows a negative amount for ESPP and is called "ESPP Rollover".

Is it better to enter this as a negative amount in the post tax decuction section? or to create an Other Income category called ESPP rollover in the Earnings section, and place the positive amount there?

mshiggins · January 9

I use the latter - add the ESPP residual or rollover to the income section of the paycheck wizard using the ESPP acumlation account as the category so the residual decrements from the accumulation account balance.

harry askenazi · January 11

Thanks for your reply. Won't that skew the gross income reporting though? For example, the rollover funds that are now coming back to me from my espp holding account, were previously picked up as gross income. Now if I categorize it on the paycheck as a positive number to the income section, wont it be misrepresenting my total gross income for the year?

https://community.quicken.com/discussion/comment/20531296#Comment_20531296

mshiggins · January 11

Using the ESPP accumulation account as the category will not show in the tax related reports as income and will not show as income in the Tax Planner.

harry askenazi · January 11

Im not thinking about tax reporting as much as general reporting. If I want to see what my gross income was, would it not show incorrectly by categorizing this way?
Curious to hear what the downside would be to putting it as a negative number in the post tax deductions area.

mshiggins · January 12

I don’t believe the paycheck form will allow negative amounts. Whether the amount is negative or positive, it would still use the same category and amounts will show in reports for that category. I recommend you try both approaches and test out how each impacts your reporting.

ESPP Rollover - Categorizing negative amount

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