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Its now January 2021 and my data is no longer showing in Tax Planner for 2020

ChuckS1ChuckS1 Member ✭✭
edited January 3 in Budgeting and Planning Tools (Windows)
Getting ready for the new year and notice that in Tax Planner, the Tax Year dropdown only shows 2019 and 2020. I renewed earlier this month. When can I expect to see tax year 2021 as an option?

Best Answers

  • brandongblackbrandongblack Member ✭✭✭
    Accepted Answer
    > @Roger said:
    > Thanks, Will do. I even loaded a backup file and it shows the same.

    you can always change your computer date back to 2020 and reopen quicken and it will get the info you need
«13

Answers

  • ScooterlamScooterlam SuperUser ✭✭✭✭✭
    Good question!   

    Looking back at Quicken's revision history,  tax rate updates for the new year have occurred in Dec, Jan and even as late as May....this is what I can see from the revision history - release notes is not all that consistent in reporting changes.  @markus1957 may have some more input here.

    Tax impacts to Quicken (tax planner, LTP, et al)  should be updated in the application when they go into effect ie Jan 1, 20xx  It should not require a "user idea post" or a "report a problem post" to lobby product mgt. for this kind of change - plan it, drop it timely, year over year.

    https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2021
  • markus1957markus1957 SuperUser, Windows Beta Beta
    edited December 2020
    They are late when compared to the last few years, but as mentioned, not as late as many years ago when tax planner was neglected and many of the calculations were also wrong.  Hopefully they are not slipping back into their old ways.  I've always thought Tax Planner was one of the top value-added features in Quicken.  Keeping it updated should be a priority.

    That said, the planner as designed will not display 2021 estimates until January 1 so they still have one more work day to demonstrate Tax Planner remains a priority feature.

    adding- It has been useful for advance planning when the new rates have been applied to Quicken in December.  The scenarios feature allows selecting another year's rates; so for most users, 2019 is much less useful than 2021 once 2021 rates are published by the IRS in early November.
  • NotACPANotACPA SuperUser, Windows Beta Beta
    It would also be useful, in H&B, if they updated the Mileage Rates table to include the 2021 values.  The IRS published them months ago ... but 2020 is still the latest in Q
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • ps56kps56k SuperUser ✭✭✭✭✭
    edited December 2020
    Here is the current one - weird reading compared to normal tax tables...
    Quicken OVER vs other tax tables listing as UP TO.


    Quicken 2020 Deluxe - Subscription - Windows 10
  • markus1957markus1957 SuperUser, Windows Beta Beta
    The tax calculations are correct (at least for my input values) but the Marginal Rate shown in tax summary section may not be correct.  Best I can tell it is a display issue caused by not backing off the more recently added QDI value (and maybe LTCG) under Dividends.

    So while Tax Summary may show you in the 22% bracket, if you have QDI, you may not be there yet.  Again, best I can tell, the tax calculation itself does take QDI into account and correctly compute the tax owed.

    If AGI is your guide to Marginal rate, then it is correct, but AGI does not necessarily dictate the tax bracket rate to apply for certain types of income.  In my mind, top marginal rate is the highest rate bracket applied to your regular income.
  • RogerRoger Member ✭✭
    edited January 3
    I got up early, January 1 2021, to do some tax planning and my tax data for 2019 and 2020 are gone. I ran the tax schedule report and all data is there. Why is the data not showing up in my tax planner?
  • JeffG35578JeffG35578 Member ✭✭
    I too find the tax planner to be a very valuable tool. I hope quicken updates it for 2021 quickly. Ive now run into a bug, when I first opened Quicken on 1/1/21 Tax planner showed projections for 2021 (even through the planner year says 2020). However after changing the year drop down to 2019 and back to 2020, the projections are now for 2020 and not 2021. You have to close quicken and re open to get 2021 projections to show up.
  • brandongblackbrandongblack Member ✭✭✭
    > @JeffG35578 said:
    > I too find the tax planner to be a very valuable tool. I hope quicken updates it for 2021 quickly. Ive now run into a bug, when I first opened Quicken on 1/1/21 Tax planner showed projections for 2021 (even through the planner year says 2020). However after changing the year drop down to 2019 and back to 2020, the projections are now for 2020 and not 2021. You have to close quicken and re open to get 2021 projections to show up.

    I noticed that too - luckily I grabbed a printout of the 2020 tax summary yesterday so I'll have it for tax filing lol. Hopefully they fix this so it's less buggy soon
  • brandongblackbrandongblack Member ✭✭✭
    > @Roger said:
    > I got up early, January 1 2021, to do some tax planning and my tax data for 2019 and 2020 are gone. I ran the tax schedule report and all data is there. Why is the data not showing up in my tax planner?

    Probably a bug or tax planner isn't updated for 2021. In quicken click help > report problem. I'll do it too and hopefully quicken team can patch it once they're back from holiday vacation
  • RogerRoger Member ✭✭
    Thanks, Will do. I even loaded a backup file and it shows the same.
  • brandongblackbrandongblack Member ✭✭✭
    Accepted Answer
    > @Roger said:
    > Thanks, Will do. I even loaded a backup file and it shows the same.

    you can always change your computer date back to 2020 and reopen quicken and it will get the info you need
  • Doug ObeeDoug Obee Member ✭✭
    Did they not know 2021 was coming up? The tax planner has wiped out my 2020 numbers. I was waiting for today to edit my last EFTPS payment. I guess I have to anticipate Quicken lack of planning like brandongblack did. It's ALWAYS SOMETHING!
  • RogerRoger Member ✭✭
    good idea. I changed the date on PC to 2020 and all appeared except for estimated tax payments which shows zero and cannot override. Planner shows "Quicken Data from 2021" under tax payments. It's a shame Quicken can't make this work right.
  • Gilley7997Gilley7997 Member ✭✭
    edited January 1
    > @brandongblack said:
    > > @JeffG35578 said:
    > > I too find the tax planner to be a very valuable tool. I hope quicken updates it for 2021 quickly. Ive now run into a bug, when I first opened Quicken on 1/1/21 Tax planner showed projections for 2021 (even through the planner year says 2020). However after changing the year drop down to 2019 and back to 2020, the projections are now for 2020 and not 2021. You have to close quicken and re open to get 2021 projections to show up.
    >
    > I noticed that too - luckily I grabbed a printout of the 2020 tax summary yesterday so I'll have it for tax filing lol. Hopefully they fix this so it's less buggy soon

    I also ran into this. But only for certain things. The main one I noticed was that the Capital Gains estimates are now based on 2021, which means it has blanked everything for that. This Sucks....and yeah 2021 isn't available either. Would be nice to have 3 years available. One back one to compare with current and a future planning...

    As of right now the 2020 Tax planner information has become completely useless right when you actually need it to start comparing and prepping things.
  • Regina@[email protected] Member ✭✭
    Really? Quicken did not think to plan ahead for the new year? I too am unable to access my 2020 tax planner, even if I try to fake it out and select 2019.
  • Rocket J SquirrelRocket J Squirrel SuperUser, Windows Beta ✭✭✭✭✭
    The Tax Planner has a place to designate the tax year of interest. It should not reset to all zeros on January 1 of the following year. The only workaround I know is to change the system date, which is an annoyance.

    Quicken user since version 2 for DOS, now using QWin Premier Subscription on Win10 Pro.
  • ps56kps56k SuperUser ✭✭✭✭✭
    edited January 1
    I wonder if the Tax Planner update/modification only comes thru via the normal patch download or via some other internal updating ?

    I'm currently solid with R29.22 - and have been reluctant to download the latest R30.xx update, then update to the update, then hotfix to the update that updated the update.
    Quicken 2020 Deluxe - Subscription - Windows 10
  • BoatnmaniacBoatnmaniac SuperUser ✭✭✭✭
    Yes, loss of the 2020 Tax Planner and the inability to start planning for 2021 is a big disappointment.  I have reported these problems to Quicken.  I suggest everyone do the same (Help > Report a Problem).  The more people who report this problem the more likely that the Quicken Team will address it quickly.  And maybe, just maybe, they will do something that can restore our 2020 Tax Plans.
    (QW Premier Subscription: R31.5 on Windows 10)
  • Chris_QPWChris_QPW Member ✭✭✭✭
    Yeah that was something that always bugged me when using the Tax Planner.
    (I'm using the latest Quicken subscription version)
  • jcgmc24jcgmc24 Member ✭✭
    edited January 2
    Glad to see I wasn't the only one seeing the Tax Planner way out of wack after the New Year. I remember this same thing occurring last year as well, and the year before that.
    Just figured it would be fixed by now since they get a ton of recurring cash flow from our subscription fees to improve items like this. Guess the programming to handle that little date change is too complex to tackle.
  • VirgilBVirgilB Member ✭
    I was told by Support that Home and Business only supports the correct planner.
  • JohnCJohnC Member ✭✭
    The tax planner has been this way for years. And it won't start working again until they update the tables and information for the next tax year. But actually if you're not done with your tax planning before the end of the tax year, it's a little late. It used to irritate me every year until I started writing down the final estimate numbers before the end of the year.
  • FiddlersElbow1FiddlersElbow1 Member ✭✭
    yes, have the same issue.. it should show 2021 and 2020 but it does 2021 (showing as 2020) and 2019... they need to adjust quickly.
  • Rocket J SquirrelRocket J Squirrel SuperUser, Windows Beta ✭✭✭✭✭
    edited January 2
    JohnC said:
    But actually if you're not done with your tax planning before the end of the tax year, it's a little late. It used to irritate me every year until I started writing down the final estimate numbers before the end of the year.
    I got a bunch of dividend and interest transactions dated 12/31/20, so I could not see them in Quicken until they downloaded on 1/1/21, by which time the Tax Planner has stopped looking at 2020.
    Also, I pay estimated taxes, and the final payment is due in January of the following year. So it would be nice to see what my final payment should be to get my refund or amount owed as close to zero as possible.
    What I just did was reset my PC's clock to 12/31/20 and printed out the TP using its little printer icon. It prints a nicely formatted summary but omits all the details.
    I believe this jumping into the next year is a bug and have reported it as such.
    Quicken user since version 2 for DOS, now using QWin Premier Subscription on Win10 Pro.
  • Chris_QPWChris_QPW Member ✭✭✭✭
    JohnC said:
    But actually if you're not done with your tax planning before the end of the tax year, it's a little late. 
    This isn't really a correct statement.

    Where is a quiz question for people.  When is a "quarter of the year" not 3 months?

    Answer, when you deal with the IRS!
    (Look that the "quarter dates" you pay estimated taxes on.)

    The tax year might end on December 31th, but no way does the tax planning for that year.  The financial institution's have at least up to the end of January to send you documents needed for your taxes.

    Now personally I don't use the Tax Planner, I use my tax program, but in doing so the first thing I create when I get the new tax program is to create an "estimated" tax file, and I keep updating it until I have all the final number.  This is all "tax planning".  And it certainly doesn't stop at the end of the "tax year".

    And yeah this happens every year, but that doesn't mean it isn't a problem.  It just means that it is a problem that hasn't been addressed in all these years.
    (I'm using the latest Quicken subscription version)
  • kolbemankolbeman Member ✭✭
    Wow! I started using the tax planner on 12/31/2020 and was amazed how useful it was to me. I tried to use it today 1/2/2021 and it no longer works. How frustrating!! It is absolutely false the change of the year is beyond the planning period. I have the option of making a quarterly statement in the next two weeks to avoid penalties so it isn't too late.
  • GeoffreyRadbillGeoffreyRadbill Member ✭✭
    My estimated taxes are due on 1/15/2021 . . . should have at least printed tax planner on 12/31/2020. Now, I'm out of luck and will have to go on memory. Come on Quicken. Fix this annoyance.
  • Chris_QPWChris_QPW Member ✭✭✭✭
    @GeoffreyRadbill Just set your system clock back to 12/31/2020 and open Quicken, and you will be able to see the tax planner information.
    (I'm using the latest Quicken subscription version)
This discussion has been closed.