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Category Report Dividends, ST Cap Gain, LT Cap Gain

William Day

I have noticed that the Category Report for Dividends, LT Cap Gain and ST Cap Gain appears to mix taxable and non-taxable Div, LT cap Gain and ST Cap Gain. Shouldn't there be Categories for Div-NT, LT Cap Gain-NT and ST Cap Gain-NT. I have categorized my investments as Brokerage, Traditional IRA, Traditional Roth, and 401-k. Yet the Reinvested Dividends, Reinvested ST Cap Gains and Reinvested LT Cap Gains appear to be posted the the Dividends, ST Cap Gains and LT Cap Gains without regard to these reinvestments being Taxable or Non-Taxable. Am I missing something?

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NotACPA

The internal categories that Q uses for these actions,(_DivInc, _LT CapGNDst, ST CapGNDst, etc) are account agnostic.

If you don't want your various retirement accounts included in the report, then customize the report to exclude those accounts.

unknown

You can create your own investment categories outside of Quicken's "stock" investment categories.

Then customize the report to include those.

I have created my own "tax exempt dividends" category.

William Day

Q2018Mac mixes IRA & 401-K Dividends and CapGains with Non-IRA and Non-401-K Dividends and CapGains. Q2018Mac also allows one to export Categories to tax software. If one 'exports' the Dividends & CapGains to tax software one would be paying income taxes on non-taxable dividends & CapGains - not a good idea.

I believe the Q2018Mac should be 'smart enough' to automatically post IRA & 401-K Dividends & CapGains to Non-Taxable Categories. Q2007Mac had this capability; and my guess is that Q2018Windows does also.

While it is relatively easy to 'setup' non-taxable categories it is not so easy to get Q2018Mac to REINVEST IRA & 401k dividends & CapGains into those categories when entering the Reinvest option.

I believe that 'mixing' IRA/401k dividends & CapGains with Non-IRA/Non-401k dividends & CapGains is a BUG that needs immediate attention.

NotACPA

Q2018Mac mixes IRA & 401-K Dividends and CapGains with Non-IRA and Non-401-K Dividends and CapGains. Q2018Mac also allows one to export Categories to tax software. If one 'exports' the Dividends & CapGains to tax software one would be paying income taxes on non-taxable dividends & CapGains - not a good idea.

I believe the Q2018Mac should be 'smart enough' to automatically post IRA & 401-K Dividends & CapGains to Non-Taxable Categories. Q2007Mac had this capability; and my guess is that Q2018Windows does also.

While it is relatively easy to 'setup' non-taxable categories it is not so easy to get Q2018Mac to REINVEST IRA & 401k dividends & CapGains into those categories when entering the Reinvest option.

I believe that 'mixing' IRA/401k dividends & CapGains with Non-IRA/Non-401k dividends & CapGains is a BUG that needs immediate attention.

I'm a QWin user, so I don't know exactly how this would work in QMac ... but have you set the tax attributes of those retirement accounts to reflect their non-taxability?

Do the accounts themselves, in Q, reflect that they're non-taxable retirement accounts?

unknown

Q2018Mac mixes IRA & 401-K Dividends and CapGains with Non-IRA and Non-401-K Dividends and CapGains. Q2018Mac also allows one to export Categories to tax software. If one 'exports' the Dividends & CapGains to tax software one would be paying income taxes on non-taxable dividends & CapGains - not a good idea.

I believe the Q2018Mac should be 'smart enough' to automatically post IRA & 401-K Dividends & CapGains to Non-Taxable Categories. Q2007Mac had this capability; and my guess is that Q2018Windows does also.

While it is relatively easy to 'setup' non-taxable categories it is not so easy to get Q2018Mac to REINVEST IRA & 401k dividends & CapGains into those categories when entering the Reinvest option.

I believe that 'mixing' IRA/401k dividends & CapGains with Non-IRA/Non-401k dividends & CapGains is a BUG that needs immediate attention.

I apologize for my previous comment about changing the category, which can't be done in Quicken Mac. My advice was for Quicken Windows.

However, in Quicken Mac edit your retirement accounts and make sure they have the "Type" as IRA, 401K or some other tax deferred retirement account.

Transactions from those account types should not appear in the Tax Schedule Report.

As to a "regular" Category Report, please make sure you use the New Report, then customize the report to ONLY include taxable accounts and the necessary categories, making sure you un-check all non-taxable retirement accounts from the list.

Both the Tax Schedule and the customized New Report should get you what you need.

As an FYI, I have memorized a New Report for capital gains and dividends for only taxable accounts...and another New Report for capital gains and dividends along ALL investment accounts.

New Report is basically the only customizable report I use because of it's flexibility. The stock Quicken Mac reports are...well, let's just call them subpar.

William Day

Q2018Mac Accounts are setup as ROTH, IRA, 401k, etc. and the Reinvest option posts ALL securities in ALL accounts to the same Dividend, ST CapGain and LT CapGain categories. This is a BUG that should be addressed by the Q2018Mac developer(s); it prohibits individuals from importing these categories correctly into tax preparation programs.

unknown

Q2018Mac Accounts are setup as ROTH, IRA, 401k, etc. and the Reinvest option posts ALL securities in ALL accounts to the same Dividend, ST CapGain and LT CapGain categories. This is a BUG that should be addressed by the Q2018Mac developer(s); it prohibits individuals from importing these categories correctly into tax preparation programs.

Yes, in Quicken Mac the Reinvest option only has Dividend, ST CapGain and LT CapGain options.

But once again, if you'll re-read my instructions from above, you can differentiate which accounts are included in the Tax Schedule (via the account "type").

When you go to the "Customize" gear from the Tax Schedule report, do your retirement non-taxable accounts show in the Accounts tab? Because in mine, they aren't even listed, are not an option and thus can't be included.

If you have taxable and non-taxable Dividends and/or Capital Gains in the SAME account, however, then you are correct...you cannot import the .txf file into tax prep software. You'll have to manually enter those figures. Quicken only differentiates between taxable and non-taxable/tax deferred accounts. It makes no such provision for taxable and non-taxable within one account...and you can't specify by category.

And you'd be correct in your assessment that Quicken isn't that smart. I disagree it's a bug...it's an omission, but not a bug. And putting this in as a requested feature might get the developers attention...or it might not.

William Day

This reply was created from a merged topic originally titled Reinvested Dividend and CapGains Issue.

Q2019Mac-V5.9.2: When Dividends and CapGains are REINVESTED from either Taxable or Non-Taxable Investments they ARE NOT segregated into Taxable & Non-Taxable Categories - they are MIXED together in a Dividend, ST CapGains and LT CapGains Category. Not only does this overstate the Income Category but it makes it impossible to import the Taxable Dividends and CapGains into tax software.

In my opinion this is a serious BUG in Q2019Mac-V5.9.2.

NotACPA

This reply was created from a merged topic originally titled Moving to merge.

See this: https://getsatisfaction.com/quickencommunity/topics/when-adding-dividend-reinvestment-shares-it-adds...

AND, it's not the action (Div, CapGns, etc) that's taxable or non-taxable ... it's the ACCOUNT that's taxable or non-taxable.

You need to set the account attributes appropriately. AND, include or exclude accounts from the report to match your expectations.

Bottom line: NO BUG. Operating as designed.

Note: This conversation was created from a reply on: Reinvested Dividend and CapGains Issue.

William Day

Q2018Mac mixes IRA & 401-K Dividends and CapGains with Non-IRA and Non-401-K Dividends and CapGains. Q2018Mac also allows one to export Categories to tax software. If one 'exports' the Dividends & CapGains to tax software one would be paying income taxes on non-taxable dividends & CapGains - not a good idea.

I believe the Q2018Mac should be 'smart enough' to automatically post IRA & 401-K Dividends & CapGains to Non-Taxable Categories. Q2007Mac had this capability; and my guess is that Q2018Windows does also.

While it is relatively easy to 'setup' non-taxable categories it is not so easy to get Q2018Mac to REINVEST IRA & 401k dividends & CapGains into those categories when entering the Reinvest option.

I believe that 'mixing' IRA/401k dividends & CapGains with Non-IRA/Non-401k dividends & CapGains is a BUG that needs immediate attention.

My accounts are set up properly in Q2019Mac-V5.9.2:

When Dividends and CapGains are REINVESTED from either Taxable or Non-Taxable Investments they ARE NOT segregated into Taxable & Non-Taxable Categories - they are MIXED together in a Dividend, ST CapGains and LT CapGains Category. Not only does this overstate the Income Category but it makes it impossible to import the Taxable Dividends and CapGains into tax software.

In my opinion this is a serious BUG in Q2019Mac-V5.9.2.

This has nothing to do with excluding "stuff" from a Category Report; this is what occurs in the Q2019Mac-v5.9.2 default Category Report.

When Q2019Mac-V5.9.2 is mistakenly positing Dividends and CapGains from Taxable & Non-Taxable Accounts to the SAME category this is the definition of a BUG.

William Day

This reply was created from a merged topic originally titled Moving to merge.

See this: https://getsatisfaction.com/quickencommunity/topics/when-adding-dividend-reinvestment-shares-it-adds...

AND, it's not the action (Div, CapGns, etc) that's taxable or non-taxable ... it's the ACCOUNT that's taxable or non-taxable.

You need to set the account attributes appropriately. AND, include or exclude accounts from the report to match your expectations.

Bottom line: NO BUG. Operating as designed.

Note: This conversation was created from a reply on: Reinvested Dividend and CapGains Issue.

William Day

This reply was created from a merged topic originally titled Importing Q2019Mac Categories into Tax Software.

My accounts are set up properly in Q2019Mac-V5.9.2:

When Dividends and CapGains are REINVESTED from either Taxable or Non-Taxable Investments they ARE NOT segregated into Taxable & Non-Taxable Categories - they are MIXED together in a default Dividend, ST CapGains and LT CapGains Category.

This being the case, how do I exclude the Non-Taxable data when I import Dividend, ST CapGains and LT CapGains into tax software?

Possible Solution: Q2019Mac should be posting Dividends & CapGains from Taxable Accounts to a Taxable Category Group and Dividends & CapGains from Non-Taxable Accounts to a separate Non_Taxable Category Group.

William Day

This reply was created from a merged topic originally titled Importing Q2019Mac Categories into Tax Software.

My accounts are set up properly in Q2019Mac-V5.9.2:

When Dividends and CapGains are REINVESTED from either Taxable or Non-Taxable Investments they ARE NOT segregated into Taxable & Non-Taxable Categories - they are MIXED together in a default Dividend, ST CapGains and LT CapGains Category.

This being the case, how do I exclude the Non-Taxable data when I import Dividend, ST CapGains and LT CapGains into tax software?

Possible Solution: Q2019Mac should be posting Dividends & CapGains from Taxable Accounts to a Taxable Category Group and Dividends & CapGains from Non-Taxable Accounts to a separate Non_Taxable Category Group.

Q2019Mac: This poses a bigger problem if one imports Dividends and Capital Gains into Tax Software. There does not appear any way to separate the Taxable from the Non-Taxable Dividends & CapGains

unknown

This reply was created from a merged topic originally titled Importing Q2019Mac Categories into Tax Software.

My accounts are set up properly in Q2019Mac-V5.9.2:

When Dividends and CapGains are REINVESTED from either Taxable or Non-Taxable Investments they ARE NOT segregated into Taxable & Non-Taxable Categories - they are MIXED together in a default Dividend, ST CapGains and LT CapGains Category.

This being the case, how do I exclude the Non-Taxable data when I import Dividend, ST CapGains and LT CapGains into tax software?

Possible Solution: Q2019Mac should be posting Dividends & CapGains from Taxable Accounts to a Taxable Category Group and Dividends & CapGains from Non-Taxable Accounts to a separate Non_Taxable Category Group.

That IS a problem.

However, most tax software will usually directly import data from most fund companies, such as Vanguard, Fidelity, TRowePrice, etc.

No need to export from Quicken Mac.

William Day

This reply was created from a merged topic originally titled Importing Q2019Mac Categories into Tax Software.

My accounts are set up properly in Q2019Mac-V5.9.2:

When Dividends and CapGains are REINVESTED from either Taxable or Non-Taxable Investments they ARE NOT segregated into Taxable & Non-Taxable Categories - they are MIXED together in a default Dividend, ST CapGains and LT CapGains Category.

This being the case, how do I exclude the Non-Taxable data when I import Dividend, ST CapGains and LT CapGains into tax software?

Possible Solution: Q2019Mac should be posting Dividends & CapGains from Taxable Accounts to a Taxable Category Group and Dividends & CapGains from Non-Taxable Accounts to a separate Non_Taxable Category Group.

Q2019Mac provides the capability to export Categories into Tax Preparation Software. Why rely on fund companies when you are using Q2019Mac as your financial software and are already already importing Income, Charitable Deductions, etc, into that Tax Software. This is a BUG that needs to be addressed. Separate Categories for Taxable & Non-Taxable Dividends and CapGains would correct this issue AND, while not a Q2019Windows user, I suspect that Q2019Windows does not have this issue.

William Day

This reply was created from a merged topic originally titled Importing Q2019Mac Categories into Tax Software.

My accounts are set up properly in Q2019Mac-V5.9.2:

When Dividends and CapGains are REINVESTED from either Taxable or Non-Taxable Investments they ARE NOT segregated into Taxable & Non-Taxable Categories - they are MIXED together in a default Dividend, ST CapGains and LT CapGains Category.

This being the case, how do I exclude the Non-Taxable data when I import Dividend, ST CapGains and LT CapGains into tax software?

Possible Solution: Q2019Mac should be posting Dividends & CapGains from Taxable Accounts to a Taxable Category Group and Dividends & CapGains from Non-Taxable Accounts to a separate Non_Taxable Category Group.

I won't agree that there is "no need" to export from Quicken Mac - only that the suggestion may be an alternative for tax year 2018.