How do I remove a tax line item generated by Quicken

Question

I checked the category and a tax line item is not associated.  I tried editing individual transactions.  Even by selecting the blank line will not remove the tax line.  It seems that any payment with a property tag is categorized as Schedule E: Unspecified Rental Expense.  The issue is that some of the charges are not eligible for an expense.

Frankx · Accepted Answer

Hi @Kenny,

Yes, when you use a Rental Property Tag that will cause Quicken to show the item on the Schedule E report as an "Unspecified Rental Expense" item.  I believe this is an intended result to try and insure that any amounts connected to a rental property (by using a tag) are not overlooked when tax time comes around.

You should note the legend at the bottom of the report - which is as follows:

In addition, if you click on the "Rental Property" link (circled above), it will take you to "Quicken Help" for this topic which is shown below:

Please note the highlighted text at the bottom which indicates if you do not take action the items will NOT be transmitted to a tax prep program.

Let me know if you have any followups.

Frankx