How do you enter the Category - Investments:Dividend Income Tax-Free
E Hughes
Quicken Mac Subscription Member ✭✭
In the Categories Window under Investments is a category named Dividend Income Tax-Free with the same description which is a "required" category (non-deletable). I have found it impossible to enter this as a category for any transactions in my investment accounts. It is not a selectable category, and if I try to add the Tax-Free to the end after selecting the Dividend Income category I am told that none match and it simply reverts to Dividend Income.
Eric H
Eric H
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Best Answers
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As far as I know, you cannot actually enter that category ... it is auto-selected ONLY if the associated security has been flagged as "Tax-free".
Go to Porfolio view, click a security and then the Edit Security button. To the right of the Security Name, you'll see a checkbox for "Tax-free". Having that box checked will result in the classification of interest or dividends from that security as tax-free.
Quicken user since 1990, MacBook Pro M2 Max on Sonoma 14.7.1
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You don't select this category; Quicken knows when to use it behind the scenes.
In your investment account, if you received a dividend, you'd select transaction type = Income > Dividend; if you received a dividend which was reinvested, you'd select Reinvest > Dividend.
So now you're asking: but how do I tell Quicken that this is a tax free transaction? If this entry is in a retirement account, Quicken knows it is tax free. If this transaction is for a tax-free security (e.g. tax-free bond fund) in a regular investment account, you should check the Tax-Free checkbox on the security set-up screen. Using this check box for the security will result in Quicken using the Investments:Dividend Income Tax Free category when you run the Tax Schedule report. (It will report the dividends, but under a tax-free heading.)Quicken Mac Subscription • Quicken user since 19933
Answers
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As far as I know, you cannot actually enter that category ... it is auto-selected ONLY if the associated security has been flagged as "Tax-free".
Go to Porfolio view, click a security and then the Edit Security button. To the right of the Security Name, you'll see a checkbox for "Tax-free". Having that box checked will result in the classification of interest or dividends from that security as tax-free.
Quicken user since 1990, MacBook Pro M2 Max on Sonoma 14.7.1
3 -
You don't select this category; Quicken knows when to use it behind the scenes.
In your investment account, if you received a dividend, you'd select transaction type = Income > Dividend; if you received a dividend which was reinvested, you'd select Reinvest > Dividend.
So now you're asking: but how do I tell Quicken that this is a tax free transaction? If this entry is in a retirement account, Quicken knows it is tax free. If this transaction is for a tax-free security (e.g. tax-free bond fund) in a regular investment account, you should check the Tax-Free checkbox on the security set-up screen. Using this check box for the security will result in Quicken using the Investments:Dividend Income Tax Free category when you run the Tax Schedule report. (It will report the dividends, but under a tax-free heading.)Quicken Mac Subscription • Quicken user since 19933 -
Short form. Dividends aren't tax-free. Securities and accounts are possibly tax-free or tax deferred. and that makes that security and any securities in such an account tax-free or tax deferred.
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP1 -
Thanks, makes sense. Never knew that check box was there as I rarely (if ever) have edited a security.0
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