Schedule B Report - Summary amount doesn't match the sum of the transactions. How to fix issue?

Ray

Quicken 2019 HBR 27.1.18.16. 

In doing last year's taxes, I found that for one account, the Quicken Standard Report in the Tax section called "Schedule B-Interest and Dividends" shows a wrong summary amount of $56.76 that doesn't match that of the detailed transactions that total $8.13.



I've isolated this problem to one transaction dated 5/31/2018 using a Schedule B report I've saved from a previous version of Quicken that allows be to use a custom date range of 5/1/18 - 6/1/18. It too reports an incorrect summary interest. The summary is $49.50. If I open the transaction in the report it is $0.87; the same as the account register. 



Figuring the transaction was corrupt. I deleted it. Then replaced it with a new one (typed from scratch; not with copy and paste). The report discrepancy is still the same, showing the wrong summary amount. I ran Super Validate on the file and no error were found.

Has anyone else seen this problem?

There is a similar problem "Reports/Tax/"Schedule A" vs "Tax Summary" vs "Tax Schedule" at https://community.quicken.com/discussion/7851398/reports-tax-schedule-a-vs-tax-summary-vs-tax-schedule 

Jim_Harman

Perhaps there is another transaction in that account with a Category that has the 
Sched. B Interest tax line item.

You can go to Tools > Category list to view all your categories. Make sure Show hidden categories is checked at the bottom then click on the header of the Tax line item column to sort the list in that order and scroll down to see what categories use that line item. Then you can click on the number in the Usage column to see all the transactions that use that category.

Also try using a new Sched. B report rather than one you have saved from a previous version of Quicken, sometimes there are problems with old reports.

Good luck! 

Ray

Thanks for your suggestion. I went to Tools, Category List and checked "Show hidden categories. Under "Interest" it shows 407 and clicking the number it pops up a window showing 5 subcategories. I clicked "Full report" then sorted by Date/Amount. Between 5/1/2018 - 6/1/2018 there are two transactions. I also changed the Date range to Custom and entered 5/1/2018 - 6/1/2018. Both reports show the same two transaction as as in my 2nd screen shot.

The summary and detail reports should use the same data. I think there's a problem in the coding to produce the summary rather than a hidden transaction.

UKR

"Supervalidate" alone is not the cure-all for what may ail a Quicken data file.

You may want to perform the full procedure here:

Troubleshooting 101 - Fixing Software Installation and Data File Problems

Is there another transaction (or several) in other accounts, hidden or marked separate, that make up the discrepancy? Have you had to make a balance adjustment upon reconcile in one of your accounts?

Ray

Thanks for your suggestions. My release was Quicken 2019 HBR 27.1.18.16. Help, Check for updates said I had the latest version but your link "Troublshooting 101..." listed an update for May of 27.1.19.34. I downloaded the mondo patch and installed it without incident. The summary error is still there.

I followed the validation of creating a copy and opening the copy. The error is still there. I ran validation and rebuild investment lots and no problems were found. The summary error is still there. There weren't any issues doing these steps. 

Yesterday, I used Quicken's Help, Report a problem and submitted the problem, sanitized data file and other files to them. I think Quicken has to analyze the data to find the issue.

Ray

I found some of the problem.

In the "Schedule B-Interest and Dividends" report, Quicken is including "Div Income" in the summary for Taxable Interest but not in the details. I opened the report's gear, then select the Categories tab. All categories are selected by default. If I uncheck Div Income, the summary and detail amounts match.

I found the problem by noticing the summary was $48.63 more than the details total. I searched for this amount and found a 5/31/2018 split transaction with a Div Income of $48.62. I recreated the same transaction and the report error doubled. I then looked at the report setting, unchecked the Div Income and the error vanished.

If Div Income is enabled (as in the default report), the Div Income is missing in the Ordinary Dividends summary but shown in the detail. So the summary is $48.63 less than the details total.

I think it's more complicated than this as it only affects New York Life (Property & Debt) and not Hannover Insurance (Security) transactions.

Jim_Harman

OK, I think I see what you are seeing.

Like you I have Interest Inc and Div Income Categories with the appropriate Sched. B line items applied.

If I make a split transaction in a banking account that has both Interest Inc and Div Income as the categories, the Sched. B report is incorrect.

If the interest Inc is the first line of the split, the top level of the Sched B report is correct for the interest but ignores the dividend.

If the Interest Inc is the second line of the split, the top level of the report shows the total transaction amount as interest and does not show the dividend. Drilling down, it shows the correct amount for the interest.

This is an unusual situation but clearly a bug in the way the report handles split transactions I think.

Jim_Harman

To avoid this problem you could enter the income as two transactions rather than a split.

Jim_Harman

Update/correction:

On further investigation I see the following in the Schedule B report when there is a split in a banking account income transaction.

I experimented with 3 Categories and varied the order of the split lines
-- Div is dividend income
-- Int is interest income
-- Gift has no tax line.

The order of the categories below is the order of the lines in the split transaction.

Div & Gift - OK
Gift & Div - Div amount shows as interest in the report

Int & Gift - OK
Gift & Int - OK

Div & Int - Total amount shows as dividend in the report
Int & Div - Total amount shows as interest in the report.

Here is a screenshot from a test file that illustrates the last test case. The transaction shows $3.33 of interest and $6.66 of dividends but the report shows the total amount as interest.

It is hard to think of a simple coding error that would cause this combination of errors in the report, but that is what I am seeing. It would be good if someone else can replicate what I am seeing.

Again, you can avoid these problems by recording the income as individual transactions rather than as a split.

Ray

Thanks for your additional research. It is a complex problem.

I'm going to leave my split entry as a test case so I can see if Quicken fixes the problem as there probably are other split transactions that are incorrectly reported.

How is this problem escalated so that Quicken fixes it? Is there a mechanism to be notified that it has been fixed?

Jim_Harman

You can enter it in the Quicken for Windows > Product ideas section of this forum where other users can see it and vote on its importance. The powers that be at Quicken say they review these ideas when planning future releases.

It is best to give it a clear title in the form of an idea like "Fix Schedule B report so it handles split transactions that include dividends correctly" and a clear description of the problem. Reference this discussion and feel free to cut and paste from the responses here.

The only mechanism for notification of fixes like this is the release notes that come out when there are updates. Unfortunately these often do not have enough detail to tell if a particular problem has been fixed.

Ray

I would appreciate it if you'd post it for me. You know how to do it and your title and description are excellent. The location of the posting should be added to this discussion so others can vote on it too.

Jim_Harman

OK, it is here:
https://community.quicken.com/discussion/7853844/fix-schedule-b-report-so-it-handles-split-transactions-that-include-dividends-correctly/p1?new=1