Add Qualified Dividend As Option For Income (Div, Int, etc.) and Income Reinvested Transactions

f0445780

Since a large number of dividends these days are qualified dividends, it would be nice if qualified dividend was an option within the Income (Div, Int, etc.) and Income Reinvested under Enter Transactions. Currently to enter a dividend as qualified, I have to change the download from my broker from Dividend to Miscellaneous and to reinvest that qualified dividend, I have to create a new transaction to buy the shares. It would be nice if qualified dividend was an option, and I was able to select that as my default for downloaded transactions.

markus1957

I would suggest adding a QDI checkbox in Security Details like exists for "Tax free" and then handle the income generated appropriately in the Tax Planner QDI section.

Jim_Harman

The pros and cons of a change like this were discussed at some length here
https://community.quicken.com/discussion/7409871/qualified-dividends-entry

One issue is that for many mutual funds you do not know until your 1099 is issued how much of the dividends will be qualified.

For planning purposes, perhaps entering an estimate in the Tax Planner would be the best apporach. I think just like on the 1040, you enter your total dividends at the top and the Qualified dividends at the bottom in the Tax Planner. 

ChicagoGuy

> @Jim_Harman said:
> One issue is that for many mutual funds you do not know until your 1099 is issued how much of the dividends will be qualified.

That varies by brokerage firm. My Charles Schwab Account already distinguishes the xaction internally as "Qual Div Reinvest" while Vanguard would only show a similar xaction as "Div Reinvest".

So, some firms (at least Schwab) can already provide an indication for Qualified when the xaction is posted. Maybe Quicken can create a new transaction category. "If Quicken supports,maybe the brokerage firms will also come"

Jim_Harman

How does Quicken currently record Schwab's qualified dividends when they are downloaded?

If a fund distributes a mixture of qualified and regular dividends, are they downloaded as separate transactions?

Quicken Anja

Hello All,

This idea seems to have fallen stagnant and due to the age of the request and lack of user votes/comments, will be archived within the next 7 business days.

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Jim_Harman

This is would still be a good enhancement, and would make the Tax Planner predictions more accurate.