Cannot edit tax line item

Glen Raggio

I cannot edit Quicken default categories for tax items. Such as _DivInc, _IntInc, _LTCapGnDist. A Right-click produces Hide or Category report. This function will not allow the transactions to rollover to Turbo Tax. Please help.

markus1957

This is not a new problem, but what is new is that the developers have taken an interest and may implement a fix.  Keep an eye out for an indication of a fix in the Release Notes of future updates.

https://community.quicken.com/discussion/7866432/system-category-named-divinc-is-missing-tax-line-assignment-i-e-schedule-b#latest

Sherlock

If you have applied the wrong category to a transaction entry, I suggest you replace the category you used.  The categories prefixed by an underscore are used within Quicken and should not be edited.  It is technically possible for a user to change the tax line item of these categories but, unless you really need to change them and understand what you are doing, I recommend you avoid doing so.

NotACPA

Why do you believe that Q's internal investment type categories can be "rollover"ed into TTAX?

I use ALL of those categories, as default in my investment accounts, and TTAX takes them without alteration and without problem.

Also, What Q product are you running?  What BUILD of Q?  Do HELP, About Quicken for this info.

JustMeHere

> @Sherlock said:
> It is technically possible for a user to change the tax line item of these categories but,...

In fact it isn't possible to change the tax line on some of the built-in categories. For instance _DivInc is one you can't change. The ones that can't be changed are the ones that Quicken uses in the investment transactions for a given "action". _DivInc is used for the Div action and as such they don't want the user mucking with it, as in deleting it (which probably would make Quicken crash on entering dividends) or editing it at all. Right click on _DivInc in the Category list and you will find you can't edit it.

But in fact there is very good reason for not allowing the user to change these. They are the right tax lines. If you find that a transaction should have gone to a different tax line then it is most likely because you used the wrong action/category for that transaction.

I will note that Quicken has some limitations on Dividends, as in it knows nothing about "qualified dividends", and as such can't separate them out for you.

I personally gave up on trying to export/import from Quicken to TurboTax years ago with the exception of business transactions that I can't get from other sources like directly from the financial institution's 1099s. The reason is simple, I found myself spending a large amount of hours trying to get the exports/imports to have all the right categories/tax lines when in reality the numbers had to line up with what was on the 1099 or I had to go back and request a new 1099 (which I have never done because it the Quicken numbers that are always wrong). Quicken's data and reports make for good double checking, but they are not any kind of authority with the exception of transactions that aren't recorded in any other manner.

Rocket J Squirrel

JustMeHere said:

> @Sherlock said:
> It is technically possible for a user to change the tax line item of these categories but,...

In fact it isn't possible to change the tax line on some of the built-in categories. For instance _DivInc is one you can't change.

In fact, you can change the TLI associated with built-in categories. It is not recommended and will cause problems. We have requested Quicken eliminate the loophole which allows this.

You have to go to Tax Planner and drill down into a "View tax line items used here". Then you can change the TLI. It's a bad idea. Don't do it. See the bad example in this screen shot.

Rocket J Squirrel

JustMeHere said:

I will note that Quicken has some limitations on Dividends, as in it knows nothing about "qualified dividends", and as such can't separate them out for you.

It can handle qualified dividends, but generally FIs don't signify them when those transactions download. You have to manually change the category to _QualDivInc.

Rocket J Squirrel

Glen Raggio said:

I cannot edit Quicken default categories for tax items. Such as _DivInc, _IntInc, _LTCapGnDist. A Right-click produces Hide or Category report. This function will not allow the transactions to rollover to Turbo Tax. Please help.

So back to the original question. What do you mean by "edit" tax categories, and why do you think you want to do that? And what does "rollover" to TT mean?

It is not reliable to import Q data into TT. You should use your actual 1099 data in TT. Many FIs allow direct download of 1099 data into TT.

JustMeHere

@Rocket J Squirrel "You have to go to Tax Planner and drill down into a "View tax line items used here". Then you can change the TLI. It's a bad idea. Don't do it. See the bad example in this screen shot."

You got me there! I didn't know about that "loop hole"!

Rocket J Squirrel

JustMeHere said:

You got me there! I didn't know about that "loop hole"!

Now forget you know it. We learned of it from users who accidentally disconnected built-in categories from their tax line items and were unable to restore them. It's a one-way loophole which must be avoided.

Glen Raggio

I don't want to change the tax line item. THE TAX LINE ITEM IS NOT THERE IN THE CATEGORY LIST VIEW for default categories (no Sch A or Sch B or Form 1040). I understand the potential conflicts and errors in reporting for Dividends, Interest, Short Term Capital Gains, Mid Term Capital Gains and Long Term Capital Gains. Again I reiterate that in the CATEGORY LIST view for these and other Q default categories under the heading of Tax Line Item is void of any entry, nothing listed. A right-click only produces a Hide or Category report option. Oddly enough, a right-click for _Flex Contrib & _Flex Contri Spouse does allow Edit, Hide, New Category, New Subcategory, or Delete.

Inconsistency, at best.

Created a new Q file, (TEST) added brokerage account. the Category list has the default Tax Line Item associated with appropriate IRS form. Go figure. HELP

Sherlock

Glen Raggio said:

I don't want to change the tax line item. THE TAX LINE ITEM IS NOT THERE IN THE CATEGORY LIST VIEW for default categories (no Sch A or Sch B or Form 1040). I understand the potential conflicts and errors in reporting for Dividends, Interest, Short Term Capital Gains, Mid Term Capital Gains and Long Term Capital Gains. Again I reiterate that in the CATEGORY LIST view for these and other Q default categories under the heading of Tax Line Item is void of any entry, nothing listed. A right-click only produces a Hide or Category report option. Oddly enough, a right-click for _Flex Contrib & _Flex Contri Spouse does allow Edit, Hide, New Category, New Subcategory, or Delete.

Inconsistency, at best.

Created a new Q file, (TEST) added brokerage account. the Category list has the default Tax Line Item associated with appropriate IRS form. Go figure. HELP

The implication is the original data file is corrupt and can not be repaired.  It's true that a few of the underscore categories appear to be editable.  I suppose these are recent exceptions to the rule.

I suggest attempting to restore your backups of your data file.

markus1957

This is not a new problem, but what is new is that the developers have taken an interest and may implement a fix.  Keep an eye out for an indication of a fix in the Release Notes of future updates.

https://community.quicken.com/discussion/7866432/system-category-named-divinc-is-missing-tax-line-assignment-i-e-schedule-b#latest

Glen Raggio

Thanks, markus1957, I await an update/patch for this problem. Good to see that I am not the only one with this complaint.

markus1957

As reported by RJS in another thread-

"Good news! It appears that it is once again possible to edit the "_" investment categories in QWin R30.14.

Hold down CTRL and SHIFT and right-click the category. You should see Edit in the resulting menu. Then you can go to the Tax Reporting tab of the resulting dialog and correct the tax line item."