nav[aria-label="Primary Navigation"] { padding: 0; & ul { list-style: none; width: 100%; display: flex; flex-direction: row; justify-content: start; align-items: start; gap: 30px; padding: 0; & li { margin: 0; } & ul li { list-style: none; } } }

Provide additional Medical items in the Schedule A tax related items (16 Legacy Votes)

RickO

When associating tax-related medical categories with Schedule A, there are items for Doctors, Dentists, Hospitals; Medical Mileage; Medical Travel and Lodging; and Medicine and Drugs.

There are not items for Medical Insurance and Medical Supplies. Please add these two items to Schedule A tax related items, as well as a general "Medical" item to be more consistent with tax preparation software.

An example of the current options for Mac are shown below for QM2017.

(4 Legacy Votes)

Find more posts tagged with

Reviewed

Status: Reviewed

Comments

unknown

I understand your question, but you could create a category for those costs you are concerned about, and then create a tax association to Schedule A DRS, DDS, and Hosp, which is where they get entered anyway.

RickO

I understand your question, but you could create a category for those costs you are concerned about, and then create a tax association to Schedule A DRS, DDS, and Hosp, which is where they get entered anyway.

It's not a question; it's a request for addition to the granularity of the Schedule A tax associations. These items can be seen on the Tax Schedule Report and map into tax programs (TurboTax) via export of the TXF file. They are not they only ones that could be added to be consistent with TurboTax's Medical Expense Worksheet, but they are ones requested by another user who would like to see this level of detail in the reports and exports.

In the end, it only affects personal record keeping as Schedule A does not treat different types of medical expenses differently (as you point out).

psobilo

I understand your question, but you could create a category for those costs you are concerned about, and then create a tax association to Schedule A DRS, DDS, and Hosp, which is where they get entered anyway.

Unfortunately, TurboTax follows the lead of the IRS and breaks down Medical expenses on Sch. A (doctors, hospitals, diagnostics, vision, etc.) It would be nice if Quicken provided the same granularity. At tax time, I have to print out my medical expenses for the year and then start parsing it as I fill out TurboTax. Or am I missing something?

unknown

I understand your question, but you could create a category for those costs you are concerned about, and then create a tax association to Schedule A DRS, DDS, and Hosp, which is where they get entered anyway.

Sshedule A folds all medical and dental expenses up into one line. So you just need the one line for tax line item.

Quicken_Tyka

Hello All,

This Idea seems to have fallen stagnant and due to the Age of the request and lack of User Votes/Comments, will be archived within the next 7 business days.

If you would like to see this Idea kept alive and considered for possible future implementation in Quicken, be sure to Add your Vote and a comment explaining how this Idea would be beneficial for you.

More information, including steps to vote and how to submit your own Ideas for future product features/improvements, is also available here.

Thank you,

Quicken Community Support Team

Tom Crehan

I'd love to see this added as well as a Tax Line item for "self-employed health insurance premiums."

I realize the Tax Line # jumps around from year to year (in 2017 it was directly on the 1040; now it's on Schedule 1) and the actual total of premiums *might* be different than the deduction we can take, but... having that total would be extremely useful on the Tax Schedule Report.

Currently my only option is to lump it in as an "Unassigned Tax Item" and break it down myself later and annotate the PDF I send to my accountant. That means more work and more room for error.

Adding a simple "Self-Employed Health Insurance Premiums" as a Tax Line Item would be simple. Barring that, allow us the flexibility to add & edit the Tax Line item categories ourselves. Thanks!

Steve54@

Telling the users that we can enter categories and assign them to tax forms, misses an important point. This approach means that every user needs to understand the fluctuating and unstable nation of the US tax system.

I would restate the feature request as the following: Quicken should provide additional categories and associated tax assignments because I expect Quicken to be able to parse these as the US tax regulations change. Change is routine, stability is a myth.

Steve

GiantGary

We should be able to "Link" our health insurance premiums to a tax reporting category of "SE Allowable Health Insurance" (for those that are self employed). This recommendation correlates to IRS Form 1040 Schedule 1, line 17 - Self Employment Health Insurance Deduction. Since the Self Employed Health Insurance deduction bounces around the IRS tax forms frequently, another means of doing this is to add a Quicken Tax Line item titled: "1040 Income Deduction, misc" category

DR806

Quicken, this topic is old, however, the point that there should be a way to categorize self-employed health insurance is very relative. While it is true, the expense 'may possibly' end up on Sch A, it should be separated from the beginning, and then, if there is a business profit the expense ends up on Sch 1, Line 17 as an adjustment to business income. If there is NOT a business profit, then the expense ends up on Sch A, Line 1, with the rest of the medical expenses to be itemized. But it needs to be separated from the beginning in case it can be used on Sch 1.

If using TurboTax, put the self-employment health insurance in Business Expenses>Other Common Business Expenses>Insurance Payments>Health Insurance Premiums, and TurboTax will figure out where to put it between Sch 1 and Sch A (based on your business profit).

Either way Quicken, there needs to be a tax category for self-employed insurance premiums, either under Sch C or Form 1040. It must be separated. So why do you keep resisting that?

Please note - not all self-employed health insurance can be used on Sch 1. Please consult a tax professional if you have questions about whether yours can be.

In the meantime, in Quicken, I would use something under Sch A, such as "Other taxes", or "Misc., no 2% AGI limit". This is just to separate the self-employed health insurance from other medical payments. You could also use Sch C "Unspecified Business Expense", but if you are using TurboTax and importing your data from Quicken, that line item will NOT import!