The Social Security Administration uses your gross benefit and deducts your medical insurance premium (Part B) from that. Then they "round down" (sic. "truncate" is what they do) to the nearest dollar. In my case a few more deductions are subtracted to get the final amount to be put in my bank account.
Does Quicken have a truncate operator? If not, how can I build a memorized transaction that works properly?
Seeing as to how all the amounts of the deductions are 'fixed', you don't need a truncate operator. Merely enter the correct amount as reflected in your paycheck.
And no, there is no truncate operator.
I have not seen what you describe here. My SS [and my wife's] gross usually includes some pennies and the Medicare B deduction includes the same pennies [e.g., $0.20] so that the net is always an even $ amount [no pennies]. The year-end SSA 1099 reports this same info. There is no evidence of rounding or truncating - other than the 'coincidence' that the Medicare B deduction always carries the same pennies as the gross. My case is a little different in that medicare is the only deduction I currently have.
Here's a direct quote from a recent letter from the SSA to me explaining how they calculate my benefit amount. "The regular monthly Social Security payment is .......$xxxx.00 (We must round down to the whole dollar.)"
Interesting!!! Who do you suppose is getting those pennies? :
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