Allow Users to Add Tax Forms to Tax Planner (+18 Merged Votes)

Boatnmaniac

Tax Planner is a great tool however there are forms in Quicken that can be linked to categories but aren't associated with the appropriate Tax Planner buckets.  A good example of this is at this thread:  https://community.quicken.com/discussion/comment/20087854#Comment_20087854.

If Quicken won't associate all the tax forms in Quicken to the appropriate Tax Planner buckets, can Tax Planner be updated to allow users to do that?   It would make Tax Planner an even more valuable tool.

Quicken Community

I note this question was put previously but I see no concluding answer to it from 3 years ago. Where can I find or add the Tax line item for 1040 line 29 " Self employed Insurance Deduction". There does not appear to be a tax line item for this in the list of tax line items supplied!

markus1957

You are correct. That tax line is missing in Quicken and should be added to the Adjustments>Allowable S.E. Health Insurance Deduction section in Tax Planner.

Unknown

Same problem here. [removed - off-topic]

hpllc

Agree with Markus1957 and utilize the same adjustment in tax planner.  To assist in reporting using the Tax Summary Report I added a group of categories under a category named: Insurance:Self Employed for Health, Dental and Vision.  Selected the Tax Reporting line item as Schedule A:Doctors, dentists, hospitals for each of the categories.  Not perfect, but the activity shows up in Tax Summary Report and can be transferred easily to the Tax Planner Adjustments to Income based on your personal situation based on the allowable deduction limits as it related to net SE Income. 

twsf

[removed - off-topic] It's a basic line in 1040 tax return (and an increasing number of americans are self-employed) - Quicken should have a corresponding category, appropriately placed.

ddkpe

Yes - Quicken needs to fix this ASAP!  Tax Planner - Adjustment to Income - Allowable S.E. Health Insurance Deduction has no available tax form line item for category assignment.  As a temporary work around, I am putting my self-employed healthcare premiums under under a new category and assigning it to Form 1040:Student loan interest (unused for me), so at least it shows up under Tax Planner - Adjustment to Income - Other Adjustments and segregated from our out-of-pocket medical expenses (in Schedule A:Doctors, dentists, hospitals).  

kimsdion

In our gig economy, both myself and my spouse have consulting income from side jobs. I'd love to see the 1099-MISC:Non-Employee Compensation line item duplicated to reflect self and spouse so I can track our consulting income separately in the Tax Planner.

Rocket J Squirrel

I voted this up, but two things.

1. Even the original poster needs to vote. Just posting leaves it with zero votes.

2. OP, I am going to suggest that a moderator change your ID on this forum not to be your email address. Posting with your email address allows scammers and spammers to go after you.

UKR

Someone with a better tax background than myself will probably have to chime in here ...
As far as I can see it, all the 1099-MISC lines would have to be duplicated into

• 1099-MISC (Copy 1), Self: ...
  and
• 1099-MISC (Copy 2), Spouse: ...

so that this can be properly recorded and transferred to tax software.

On second thought ... what if someone gets more than one form 1099-MISC throughout the year, not just Self and Spouse but Job 1, Job 2, Job 3 ... that would make it necessary to support more than just 2 copies, perhaps even up to 10 or more.

Quicken programmers: what do you say?

J_Mike

@UKR
I think these of Tags will address the situation(s) you describe - a unique Tag for each 1099 source. The Tax Schedule Report will subtotal by Tag.

I am not sure Tags, or separate Tax Line Items, will address the OP's query - where he wants separate totals in the Tax Planner.
I am not intimately familiar with the Tax Planner but looking at a somewhat similar example in my file - I have SocSec income for both Self and Spouse and each has a separate category and separate Tax Line Item (Self & Spouse). Looking at the Tax Planner, these two sources are reported as a combined total. The Tax Schedule Report does provide separate totals for each.

I think it would take some serious revision to the Tax Planner to get the OP's desired results.

John Bythewood

What about 1099 R for spouses??? are we supposed to combine our retirement incomes????

NotACPA

John Bythewood said:

What about 1099 R for spouses??? are we supposed to combine our retirement incomes????

Re-read J_Mike's reply.  It completely answers your question.

Scooterlam

If you setup each of your side hustles as two separate business in Quicken HBR, then assign 1 to "self" and 1 to "spouse" (image 1), income will pass separately to tax planner (image 2).  You'll also have two separate business tags one for each side hustle.

I've not tried this, but there seems to be existing functionality without adding complication to tax schedules.  Of course, you would have to purchase Home, Business and Rental version of Quicken, if you don't already own it.

Frankx

Just to chime in with another view...

I think @UKR, @J_Mike and @Scooterlam have laid out reasonable alternatives on how one can currently "see the ...1099-MISC:Non-Employee Compensation  ... [of] self and spouse so I can track our consulting income separately" albeit not within the tax planner.  Actually using Quicken accounts and reports (not the tax planner) is, I believe, a more effective way of tracking this information throughout the year.

However the tax planner actually already provides for tracking the income and expenses of "self" and "spouse" on the "Business Income or Loss - Schedule C" tab/screen of tax planner.  The total "hustle" income of each (which eventually ends up on two or more 1099-NEC forms) would be displayed there as well as related expenses.  This format, by the way, is how it works for a joint tax return (i.e.- a H and W will each have to file a Schedule C and the Schedule C's are combined on one line of the Form 1040 - which is how tax planner is handling and displaying it now.

So I won't be voting up the above suggestion, because it is not needed.

Billley

There's a bunch of line items missing. If IRS has them all, why can't Quicken?

hpllc

Echo the theme, align the Tax Reporting categories to the actual categories required to report.  We are paying a premium for Home & Business yet some categories used for businesses and self employed are missing.

Quicken Anja

Hello All,

The Community Support team regularly reviews long-standing posts and Ideas for relevancy and current interest. This Idea seems to have stalled and we would like to gauge the current interest in this request. 

If you would like to see this idea implemented, please add your vote and a comment explaining how this idea would be beneficial for you. More information, including steps to vote and how to submit your own Ideas for future product features/improvements, is also available here.

Thank you,

Quicken Community Support Team

Jim_Harman

As shown in the referenced discussion, there are plenty of tax line items that could be incorporated into the Tax Planner, making it a more closely track deductions and thus a more useful tool.

UKR

Still needed. Still important enough, IMHO, to be put on the programmers' Honey Do List.

Boatnmaniac

I agree that this and some of the other Tax Planner improvement ideas (such as https://community.quicken.com/discussion/comment/20178937#Comment_20178937) are still needed.  While Tax Planner is a great tool but it really does need to be updated to better reflect real life scenarios.

WallyNessa

Agree. I was trying to edit expenses to correct incorrect Tax Line item assignment - Example Foreign divided taxes should go on Schedule 3, Line 1 -- Quicken does not list any of the numerical Schedules to 1040 in drop down.

clay

I use Quicken Home, Business & Rental Property.
Please consider adding Schedule 1 line items to the tax reporting tab in the Category List when you click edit to link tax form line item to your category. See Schedule 1 at https://www.irs.gov/pub/irs-pdf/f1040s1.pdf

CSlouis

Why would you have a tax planner feature and not all of the tax line items available? At least have the same ones available for self and spouse. 1099 R income and withholding are pretty basic tax categories that should not just be available for self. Why is the need for tax line items to be complete and accurate even a question for Quicken, much less a recurring "Is this still relevant?"

ewilansky

I agree that all tax line items should be available, but I imagine that would be difficult to maintain, considering how overly complex the U.S. tax system is (no thanks to the tax lobby). Perhaps a compromise should be that users can add missing tax line items to their instance of Quicken. Beyond that, making tax line items portable so the community can post missing tax line items, further removes the burden from Quicken to make them all available. I know it's too much to ask Intuit or Quicken to lobby for simplifying our tax system. ;-)

Chris_QPW

ewilansky said:

I agree that all tax line items should be available, but I imagine that would be difficult to maintain, considering how overly complex the U.S. tax system is (no thanks to the tax lobby). Perhaps a compromise should be that users can add missing tax line items to their instance of Quicken. Beyond that, making tax line items portable so the community can post missing tax line items, further removes the burden from Quicken to make them all available. I know it's too much to ask Intuit or Quicken to lobby for simplifying our tax system. ;-)

I agree, and I also see another big problem that people don't seem to be acknowledging.  Tax lines are useless unless they are tied into the other parts of Quicken that deal with taxes, not to mention that people also expect these tax lines to be exported/imported from tax programs.  I don't see how the developers can give the users a "universal way" to tie in all of this.

EDIT:  BTW linking to right place in a tax report, seems a lot more doable than doing it in the Tax Planner.  As I look at the tax reports, for the most part there are a very limited number of sections a given tax line can go (without creating new tax reports for some of the very rare exceptions).  On the other hand, with the Tax Planner, you are talking about creating new sections, and lines in a GUI.  Not likely to ever happen.

ewilansky

Yes, I think tax line items appearing in one of the generated tax reports would be fine. Perhaps an easy addition would be to have Quicken add a single Other tax line item. Users can then create categories with a tax form name/number in the category title. Then, in the tax report, the Other bucket could contain all of the category items linked to it. It’s imperfect, but enough to get by.