Nominal Assets Income Calculation
I am wondering how the Nominal Assets Income figure on the Federal Taxes Report is calculated.
Our Regular Assets portfolio as input into the Monte Carlo data entry screen consists of about 50% cash and CDs, 21% large cap stock mutual funds, and 29% state specific muni bond mutual funds (although I chose Long Term Government Bonds as the portfolio component).
In the Economic Assumptions/Taxes screen, I input the 29% share for the tax free muni funds.
But the Federal Taxes report appears to be showing taxable asset income for 2015 (Nominal Assets Income) of almost twice what the actual amount will be, however it is roughly accurate if I include the estimated income from the muni bond fund.
What would be the best way to track down what is generating the erroneous income figure? I am less concerned about its impact on estimated taxes, and more concerned about correcting for over-generous discretionary spending recommendations.