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Taxable Income YTD section of Tax Center, ignores account Transfers that affect Taxable Income?

Gilley7997

I am trying to more effectively use the Tax Planner going into the future, so I set up my paycheck for full tracking this year.

I just entered my first Paycheck, which includes a few Pre-Tax Deductions. One is a Flexible Spending Account which I use an Asset Account to Track. Another is a HSA Deduction that I currently have going into a Checking Account that has a linked investment account. These two accounts are properly set to include transfers into the accounts as W2 Wages, and when viewed in the Tax Planner itself it is properly totaling the taxable income. The other Pre-Tax Deduction is the Medical Plan Premiums.

If you look at the "Taxable Income YTD" section in Tax Center, this number appears incorrect and does not match the Tax Planner Taxable Income. It is not accounting for the deductions of the Salary for the Transfers into the Flexible Spending Account, and the HSA Account. It is properly handling the "Employer Benefit:Medical" Category and deducting this amount from the Taxable Income YTD.

The Tax Planner itself seems to be handling it fine. If you open the The Tax Planner it does have the correct Taxable Amount including the Transfers into the 2 Accounts as reductions to the Taxable Income. It almost appears that the "Taxable Income YTD" Section just ignores Transfer Catergories?

This is on version R31.6

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Gilley7997

As another side note, Running the Tax Schedule Report, also appears to properly handle the Transfer Transactions as being reported for "W-2 Salary or Wages, Self" it appears that the only place it is inconsistent is the "Taxable Income YTD" section of the Tax Center.

Quicken_Tyka

Hello @Gilley7997

Thank you for taking the time to visit the Community to post your issue, although I apologize that you haven't received a response.

I would recommend running the Validate & Repair tool on the data file from the File menu > File Operations > Validate & Repair option.

In the Validate File window that opens, click the top box to "validate file" and then click OK.

When the validation completes, a data log will open in Notepad, please let us know if any errors or issues are found/repaired, and when ready close and re-open Quicken.

Please let us know what you find!

-Quicken Tyka

Gilley7997

@Quicken_Tyka - I have completed the validation. Nothing here standing out as to being a problem. This is what it is showing:
QDF:
Validating your data.
No errors.

QEL:
No read errors.

QEL:
All internal consistency checks passed.

[Thu Jan 28 13:38:54 2021]
Analyzing securities.

Number of old style Buy/Cash investment transactions updated: 126/0
No out-of-range security references found.

After the validation - The data in the Taxable Income YTD still does not reflect the Money Transferred into Pre-Tax Deduction accounts from a paycheck, where the Tax Planner is actually calculating correctly.

Gilley7997

Anyone else seeing this or can recreate it. This appears to be a bug in the calculation for that section of the Tax Summary tab.

Gilley7997

@Quicken_Tyka Any other thoughts, or think you can recreate? Should just take a HSA like account that has a W2 credit on transfers in, and then creating a paycheck to a checking account with a transfer to that HSA Like account pre-tax deduction. This should trigger the difference between the Taxable Income Calculation in the Tax Planner does not match the YTD Taxable income box on the dashboard itself.

That or I'm nutz and I have a different problem. But I know that the information in the Tax planner is correct because it matches the taxable amount from my one paystub so far for the year. Where the Taxable Income YTD dashboard view does not match.

Gilley7997

Bump...Anyone?

Gilley7997

After the most recent update. This still appears to be a problem.

Quicken_Tyka

Hello @Gilley7997

Thank you for taking the time to visit the Community to post your issue, although I apologize that this trouble continues to persist.

At this time I would recommend contacting support directly for advanced troubleshooting steps.

https://www.quicken.com/support#contact-support

Quicken Care has the tools to review and research this issue further.

Thank you,

-Quicken Tyka

Gilley7997

I don't think this is a problem with the file or the data, I think it's a bug in the system. As I said, the Tax Planner itself, is calculating perfectly. The Taxable Income YTD section of the Tax Center is just not taking into Consideration Account Transfers from Paychecks into Non-Taxable Accounts (Flexible Spending Accounts, Health Savings Accounts) and subtracting this amount from the Taxable Income YTD Calculation. The Tax Planner itself is accounting for these just fine. I think this is just a bug and should be easily re-creatable in a new file. If I get the chance I will do that. I also don't have much faith in support, as the last time I called them, they told me that I would need to completely recreate my file, to fix a download issue. The facts we had found when troubleshooting this did not support this thesis, but they stuck to it anyway. I asked them for instructions on how to do a complete Uninstall and Reinstall, and they refused to give them saying it would not help the issue.

So I hung up on them, went and found them myself and, it 100% fixed the issue and also fixed another issue with Icons during the one step update that had been occuring since you guys changed the download system. So yeah, support will ALWAYS be an absolute last resort for me. @Quicken_Tyka

NotACPA

So, would you care to share with others this "100% fix"?

Gilley7997

> @NotACPA said:
> So, would you care to share with others this "100% fix"?

Sorry, The issue of the post is not resolved. It still exists. It was a different issue that support had me running around with. I will clean up the post. I was just venting for a second that I have no use for support. But a complete uninstall of the software resolved the download issues I was having at the time.

I can't edit the post above but there were 2 different issues. The topic of this post is still not resolved.

Gilley7997

I have recreated this in a test file. Here is the result. I created a simple paycheck with a checking account and FSA account with this one paycheck as the only transaction in the entire file.

Account Balances After Paycheck Create screenshot just shows the 2 accounts.

The Tax Schedule Information for the FSA account screenshot is shown to show how the taxable nature of transfers into this account affects the Taxable Income Number

The paycheck Created Today Screenshot shows the amounts being put in each category from the paycheck. You will also notice that at the bottom of the Paycheck it also summarizes that there will only be $900 Taxable wages.

The Taxable Income YTD Section screenshot shows the full $1000 dollars from the paycheck being taxable.

The screenshot from the tax planner, shows that only $900 is taxable, as the other $100 is being transferred Tax Favored Account.

The value in the Tax Planner Section I believe is correct, and also reflects the summary from actual Paystubs coming in. The Taxable Income YTD section does not account for Account Transfers in figuring it's total. It will subtract dollar values from paychecks that are for other Categories, like medical benefits and such, but it does not account for Transfers. The Tax Planner though does properly account for this.

Gilley7997

Does my logic make sense on this one? Or am I thinking about this wrong?