A wishlist for quicken investment

Stephen Hu

1.      Where could I find management / explanation investment action item?

2.      Is there a filter for security transaction by date, action, income category, etc?

3.      Is there filter for security list by currently owned, etc?

4.      Is there a way to modify _DIVINC to _DIVINCtaxfree and _INTINV to _INTINVtaxfree?

5.      If no support/functions on the above, how can we make it a wishlist to quicken?

Quicken_Tyka

Hello Stephen,

Here is a list of the action meanings.  Let me know if this is what you had in mind.
https://www.quicken.com/support/actions-investment-transaction-list

This link covers creating investment transactions.

https://www.quicken.com/support/how-do-i-create-investment-reports

Hope this helps!

markus1957

As for #4, those hidden system categories, taxable/tax free are automatically assigned based on whether the tax-exempt box in Security Details is checked.

#'s 2 &3 can be achieved via custom reports.

NotACPA

And, in #4, if you mean that the dividend is tax-free because it's in an IRA or 401(k) or similar retirement account ... it's the ACCOUNT status that sets it as tax-free.  It's not necessary to have the tax-free action also.

Jim_Harman

For correct tax reporting, you should check Tax free in the security details for tax exempt securities such as municipal bonds or muni bond funds. You should not check this box for ordinary mutual funds held in a tax deferred account like an IRA. 

For IRAs, Roth IRAs, and other tax deferred or tax exempt accounts, you should check the Tax Deferred box in Account details. Selecting Retirement in the Account intent does not affect the account's tax status.

These settings cause income to be categorized correctly in Quicken's tax reports and the tax deferred accounts to be excluded from these reports. 

markus1957

The Investing Portfolio Value report will only show holdings in which you have a current position.  I "Hide" securities in the Securities List for which I no longer have an open position.

mshiggins

From C. D. Bales:
"Logically, _DIVINC should be used for taxable account and _DIVINCtaxfree be used for retirement account.  Placing the account with retirement status should automatically have a tax-free, _DIVINCtaxfree, status with deferral reminder for regular IRA at distribution."

Definitely not logical.

_DivIncTaxFree is necessary only for dividends from securities that are not taxable (such as municipal bonds), held in accounts that normally contain taxable holdings. Your allegedly "logical" approach completely ignores this, and the real need for the _DivIncTaxFree category.

Quicken tax reports exclude tax-deferred accounts by default; so there is no need for a special dividend income category in those accounts.

When taxes are due on distributions from retirement accounts, that is accounted for by the assignment of the appropriate tax line item to Transfers Out of the retirement account.

Quicken_Tyka

Hello Stephen,

Here is a list of the action meanings.  Let me know if this is what you had in mind.
https://www.quicken.com/support/actions-investment-transaction-list

This link covers creating investment transactions.

https://www.quicken.com/support/how-do-i-create-investment-reports

Hope this helps!

markus1957

As for #4, those hidden system categories, taxable/tax free are automatically assigned based on whether the tax-exempt box in Security Details is checked.

#'s 2 &3 can be achieved via custom reports.

NotACPA

And, in #4, if you mean that the dividend is tax-free because it's in an IRA or 401(k) or similar retirement account ... it's the ACCOUNT status that sets it as tax-free.  It's not necessary to have the tax-free action also.

Stephen Hu

Thanks for some insight 😊

I have a same security in both taxable and non-taxable (Roth, specified as retirement) accounts with pay dividend.  By doing the tax free box in Security Details will place same tax status, either _DIVINC or  _DIVINCtaxfree on both account.  Logically, _DIVINC should be used for taxable account and _DIVINCtaxfree be used for retirement account.  Placing the account with retirement status should automatically have a tax-free, _DIVINCtaxfree, status with deferral reminder for regular IRA at distribution. The tax-free box should be limited to CD or bond that is likely to be a tax-free security. I have not seen a stock has a tax-free status and let me know if you know one 😊.

Conclusion: Right now, placing in the retirement account dose noting and using tax free box produce erroneous results.  I think Quicken can do a better job on this.

For my Q2: I want to see a live short register to understand the recent transactions and make adjustment as needed.  Through a report that would be two steps more. But, thanks the tip.  I think Quicken can do a better job on this.

For my Q3: I try look for it and there is not currently own filter in the security listing.  The filter could greatly simplify viewing with yeas of investment activities.  Again, I think Quicken can do a better job on this.

Jim_Harman

For correct tax reporting, you should check Tax free in the security details for tax exempt securities such as municipal bonds or muni bond funds. You should not check this box for ordinary mutual funds held in a tax deferred account like an IRA. 

For IRAs, Roth IRAs, and other tax deferred or tax exempt accounts, you should check the Tax Deferred box in Account details. Selecting Retirement in the Account intent does not affect the account's tax status.

These settings cause income to be categorized correctly in Quicken's tax reports and the tax deferred accounts to be excluded from these reports. 

markus1957

The Investing Portfolio Value report will only show holdings in which you have a current position.  I "Hide" securities in the Securities List for which I no longer have an open position.

mshiggins

From C. D. Bales:
"Logically, _DIVINC should be used for taxable account and _DIVINCtaxfree be used for retirement account.  Placing the account with retirement status should automatically have a tax-free, _DIVINCtaxfree, status with deferral reminder for regular IRA at distribution."

Definitely not logical.

_DivIncTaxFree is necessary only for dividends from securities that are not taxable (such as municipal bonds), held in accounts that normally contain taxable holdings. Your allegedly "logical" approach completely ignores this, and the real need for the _DivIncTaxFree category.

Quicken tax reports exclude tax-deferred accounts by default; so there is no need for a special dividend income category in those accounts.

When taxes are due on distributions from retirement accounts, that is accounted for by the assignment of the appropriate tax line item to Transfers Out of the retirement account.

Stephen Hu

The logic is meaningless of tagging a tax-free status to a financial activity in a retirement account since it is not accounted in tax filing unless a distribution reported as income.  

The regular activity labeling can still be used for tracking gain, loss, dividend and etc. if desired. 

Got it, thanks sharing all the insights.