Download of tax exempt interest and dividends from broker into traditional IRA results in taxable ca
I have a few traditional IRA's that have the Tax deferred YES checked. Whenever interest/Dividend transactions are downloaded from Merrill Lynch, all of the ones that ML has marked as "Tax Exempt" (which is all of them) come into Quicken 2017 Deluxe as _IntInc or _DivInc not _IntTaxFree or _DivIncTaxFree. This screws up the Tax reports and shows the as taxable income when they are not. The only work around that I have found is to Edit each transaction and move the amount from Dividend or Interest box to the Misc Income box and then Q allows me to change the category to the appropriate tax free one. Is this a know problem with Quicken or what? It takes time to do all this editing every month-end on 4-5 IRA accounts.