I am encountering results that don't make sense to me. In my second year of retirement (2023 in my scenario) the software is calculating a massive taxable capital gain, and selling-off many of my assets to pay for the taxes. Although I do have one particular equity with large (unrealized) capital gains, the detailed table that I exported to EXCEL shows that it is not even being sold. It's possible that I misconfigured something. I have been making adjustments to my accounts/investments trying to understand where the large taxable capital gain is coming from with no success.

The TIME MACHINE rebalances your accounts to their set asset allocations first thing every year. The account holding the shares has a target allocation set to 100% Cash, so it sells all the shares and the money is put into the Cash investment of that account. This generates a large taxable capital gain as the book value of the shares is so low compared to the market value, in a taxable account. The tax bill is not paid from that account because although you need the cash to pay it, the TIME MACHINE uses your Withdrawal PRIORITIES to determine where to get the money, and you set the other accounts to have higher priority for withdrawals.

Just set the shares ACCOUNT target asset allocation to 100% Equities. 

So it’s not a bug, it's a feature :) Accounts with current asset allocations far off from their target should show up with a red or orange "Edit Allocation" link in the ACCOUNTS  list. But I’ll see if I can’t change the default asset allocations for accounts holding individual equities, as I realize it’s an easy mistake to make to just leave them to the current default of 100% Cash. 

Thanks for your quick and detailed response. I had not fully appreciated the implications of rebalancing each year, and your explanation of the behaviour I'm seeing now makes sense. I've changed the asset allocation as you suggested and the results are much better!