Posting taxable vs non-taxable dividends

larryh4043

I receive taxable dividends in my brokerage account, and non-taxable dividends in my HSA, IRA, Roth IRA, and 401K accounts. All the accounts are designated as tax deferred except the brokerage account. I post dividends using the 'Div' action code, and Quicken automatically posts the transaction to the _DivInc category. I am not able to choose another category. At year end, I have to manually review this category to determine how much to report as taxable dividends. Is there a report in Quicken that shows taxable dividends separately from non-taxable dividends? If not, is there a way to get them to go to separate categories, or split them some other way?

Jim_Harman

Yes, Quicken's Tax reports exclude the tax deferred accounts by default and thus dividends in those accounts are not included in those reports.

You can accomplish the same thing in the other reports if you want by customizing the report and un-checking your tax deferred accounts.

BTW if you have tax exempt income in a taxable account, from a muni bond fund for example, you can mark those securities "Tax free". Then Quicken will record those dividends with the _DivIncTaxFree category and they will also be excluded from the Tax reports.

q_lurker

Any of the standard tax reports will default to excluding retirement accounts from the report. Those should accomplish your goal. 

Jim_Harman

Yes, Quicken's Tax reports exclude the tax deferred accounts by default and thus dividends in those accounts are not included in those reports.

You can accomplish the same thing in the other reports if you want by customizing the report and un-checking your tax deferred accounts.

BTW if you have tax exempt income in a taxable account, from a muni bond fund for example, you can mark those securities "Tax free". Then Quicken will record those dividends with the _DivIncTaxFree category and they will also be excluded from the Tax reports.

q_lurker

Any of the standard tax reports will default to excluding retirement accounts from the report. Those should accomplish your goal.