Kmymoney: Tax reports - how do they help you with Taxes at the end of the year

I noticed there are some Tax reports in the application.
Are these useful for tax season? I recall when I first set up KMY, it offered to add accounts for Schedule A, B, C, D, E. If I had added those accounts, would the tax reports be more useful then?

Or how do you using the existing reports? Just trying to get ideas on how I can use them and it is not obvious to me yet. I appreciate any insights or ideas! thanks!

@jessevarela:

The handbook mentions the following:

The Tax Reports are just like the Transactions Reports, but only Tax related categories are included. This allows you to flag certain categories as being tax-related, and then get one big report at the end of the year to see them all in one place. They may be listed either by Category or by Payee, and for the last fiscal year.

Meaning that, for your location, the local tax authorities probably have categories they’ve defined for what they want to see in the citizens’ tax reports – you’ll have to add these categories to KMyMoney and then associate the appropriate category to each transaction related to income and expenditure.

  • You’ll have to add additional categories for transactions such as those related to “Cash Management Transfer” – for those folks in the “Single European Payment Area” (SEPA) it’s the Purpose Code “CASH”.
    These categories shouldn’t normally be included a Tax Report because, they’re normally only recording the transactions related to moving money from one Bank Account to another – such as moving money from your savings account to your current/checking account.

@Franken14679 is correct that the tax reports are really just a convenience to save having to select all your tax related categories in some other report.
@jessevarela the "Accounts’ which were listed during setup of your data file would only have added a bunch of Categories suitable for use in the tax reports. (I’m actually not sure where those lists came from.) You would have to judge yourself whether they are appropriate and sufficient for your needs, and would still need to use the tax reports.
The real issue is whether all tax related transactions were associated with categories which are marked as tax related. You also need to be sure that each such transaction does meet the criteria of the IRS (in the US) for inclusion on the relevant Schedule.

Thanks for the responses! This is great!

Most likely initially (i.e. more than 20 years ago) from our friends over at GnuCash.