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Will QM 2017 be updated to reflect 2018 Federal tax code changes?

Ken W.
Ken W. Member ✭✭
Using QM2017 V 4.8.3. I've observed that this version does not reflect the 2018 Federal tax code changes, for example Tax Preparation Expenses are still shown as Tax Deductible. To my knowledge they are not at least until 2025.

Comments

  • Quicken Harold
    Quicken Harold Alumni ✭✭✭✭
    edited December 2018
    Hello Ken. Appreciate your question.

    I was checking on this, I'm not seeing  a Tax Preperation Expense in the current version of Quicken. 

    Can you provide more details?

    Thank you in advance.

    Respectfully,
    ~ Quicken Harold.
    Quicken Harold
    Community Moderator
  • mshiggins
    mshiggins SuperUser ✭✭✭✭✭
    edited December 2018
    Where are you seeing the expense is tax deductible? Is the expense category linked to a tax line item?
    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the  Quicken Windows FAQ list
  • RickO
    RickO SuperUser, Mac Beta Beta
    edited December 2018
    I don't see a Tax Prep Expense category in QM2019 either. But it doesn't really matter. You can easily change this yourself. Just open the category window, find the category and double click it. Then uncheck the Tax Related box. This would apply, also for example, to the "Financial Advisor" default category for 2018 taxes.
    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • Ken W.
    Ken W. Member ✭✭
    edited December 2018
    I'm using QM2017, V4.8.3. The path to see what I'm talking about is Window>Categories>Taxes-Expense>Tax Preparation Fee. See screen shot below. This is but one example. Aren't there other changes in Quicken Mac thatr should reflect changes in the tax regulations for 2018?



  • Ken W.
    Ken W. Member ✭✭
    edited December 2018
    RickO said:

    I don't see a Tax Prep Expense category in QM2019 either. But it doesn't really matter. You can easily change this yourself. Just open the category window, find the category and double click it. Then uncheck the Tax Related box. This would apply, also for example, to the "Financial Advisor" default category for 2018 taxes.

    Rick O: There are other changes in the 2018 Tax Code that I may not know or catch. Also, if I uncheck the Tax Related box wouldn't that  change the entries that I have for prior years?
  • RickO
    RickO SuperUser, Mac Beta Beta
    edited December 2018
    Ken W. said:

    I'm using QM2017, V4.8.3. The path to see what I'm talking about is Window>Categories>Taxes-Expense>Tax Preparation Fee. See screen shot below. This is but one example. Aren't there other changes in Quicken Mac thatr should reflect changes in the tax regulations for 2018?



    That's not a default category in QM2017 or later. That means it was either carried over from a previous version, or it's a category that you created yourself. But as I stated above, you can easily disassociate any category you want from the Tax Report.
    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • RickO
    RickO SuperUser, Mac Beta Beta
    edited December 2018
    Ken W. said:

    I'm using QM2017, V4.8.3. The path to see what I'm talking about is Window>Categories>Taxes-Expense>Tax Preparation Fee. See screen shot below. This is but one example. Aren't there other changes in Quicken Mac thatr should reflect changes in the tax regulations for 2018?



    Yes, it would affect prior years. You would have to create parallel new categories if you want to differentiate across years.

    That said, Quicken is not a tax preparation program. It provides a basic set of default categories to get you started. But it is your responsibility to know the tax rules and set up your personal categorization to accommodate your situation and current law.
    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • Connie Brown
    Connie Brown Windows Beta Beta
    edited December 2018
    I've also noticed in the Planning > Tax Center outdated tax-year-related settings and deduction information. And I've wondered it the older versions were updated while within their service years.
  • jacobs
    jacobs SuperUser, Mac Beta Beta
    edited December 2018

    I've also noticed in the Planning > Tax Center outdated tax-year-related settings and deduction information. And I've wondered it the older versions were updated while within their service years.

    Connie, are you talking about Quicken Windows? This thread is about Quicken Mac. There's no Planning or Tax Center in Quicken Mac.
    Quicken Mac Subscription • Quicken user since 1993
  • Connie Brown
    Connie Brown Windows Beta Beta
    edited December 2018

    I've also noticed in the Planning > Tax Center outdated tax-year-related settings and deduction information. And I've wondered it the older versions were updated while within their service years.

    So sorry. I forget to look for Mac in the header sometimes. Sorry to interrupt the discussion.
  • Quicken Harold
    Quicken Harold Alumni ✭✭✭✭
    Hello Connie.

    Are you still experiencing this issue?

    Please let us know so that we can best help you.
    ~ Quicken Harold.
    Quicken Harold
    Community Moderator
This discussion has been closed.