nav[aria-label="Primary Navigation"] { padding: 0; & ul { list-style: none; width: 100%; display: flex; flex-direction: row; justify-content: start; align-items: start; gap: 30px; padding: 0; & li { margin: 0; } & ul li { list-style: none; } } }

Tax exempt dividend category assignment

[Deleted User]

QMAC 2020 - USA (no tag for this)

Whenever a “Dividend” transaction gets downloaded from my brokerage account for my Traditional IRA (account is so marked in account set up), the dividend amount gets assigned to the “Dividend Income” category and not the “Dividend Income Tax Free” category. There doesn’t seem to be any way to change this. I end up having to change the transaction from a “Dividend” transaction to a “Payment/Deposit” transaction so I can choose the correct category. Is there any way around this?

QM knows the difference between tax-exempt and taxable accounts because I told it so during account set up.

This effectively DOUBLES the amount of work I have to do to process these!

(Removed)

Find more posts tagged with

Investments

Mac

Comments

J_Mike

See this thread:
https://community.quicken.com/discussion/7865665/interest-and-dividends-from-retirement-accounts-should-be-tax-free#latest

[Deleted User]

What's the difference between a "Traditional IRA" and an "IRA"? "IRA" is not in the list of available account types. My complaint still stands.

J_Mike

Reading the referenced post - the term IRA is referring to a "Traditional Ira" as opposed to a "Roth IRA".

Read the referenced response carefully - it applies to your case.
You are creating a lot of unnecessary work for yourself by editing these transactions.

J_Mike

A follow-up note - the "tax free" designated interest and dividend categories are intended for use where the income is indeed tax free. Example - dividends paid by a muni bond fund held in a taxable account. This income can be truly tax free.