What is the best method for tracking tax line items when multiple tax returns are created?
jrm
Member ✭✭
Q2019 R17.6 Build 27.1.17.6 Windows.
Hi. Long time Quicken user who recently upgrade from Q15. Having done so, and looking for reports for purposes different than I have used in the past, I am questioning how I have entered some of my historic transactions and wonder if there is a better way for future.
In particular, looking at categories that are tax related, such as interest or dividend income, investment expenses, etc., what is the best method for tracking these if the line item might apply to different tax returns? I have no issue using the categories (and having them associated with the tax line) when I know they are being used for my main tax return. (Disclaimer, I don't port into any tax program, but do use the tax related reports to help generate my information.)
However, I would like to also use the appropriate categories, with associated tax lines, for items that might go onto another individual's or entity's (non-business), tax return.
Should I be creating separate categories? Should I be using tax to differentiate and then customizing my reports to reflect this?
Thanks for any thoughts.
Hi. Long time Quicken user who recently upgrade from Q15. Having done so, and looking for reports for purposes different than I have used in the past, I am questioning how I have entered some of my historic transactions and wonder if there is a better way for future.
In particular, looking at categories that are tax related, such as interest or dividend income, investment expenses, etc., what is the best method for tracking these if the line item might apply to different tax returns? I have no issue using the categories (and having them associated with the tax line) when I know they are being used for my main tax return. (Disclaimer, I don't port into any tax program, but do use the tax related reports to help generate my information.)
However, I would like to also use the appropriate categories, with associated tax lines, for items that might go onto another individual's or entity's (non-business), tax return.
Should I be creating separate categories? Should I be using tax to differentiate and then customizing my reports to reflect this?
Thanks for any thoughts.
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Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
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Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
0
-
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0
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