Tax Planning

Tax Planner - can you create a method where you can map the categories and/or accounts to include in Quicken Data that contributes to the Tax Planner. For instance, with Capital Gains calculations its pulling in numbers from retirement accounts such as 401k even though they have been designated as Retirement (vs investment) accounts. Consequently, the cap gain calculations are wrong. Same can be said for any other field - it would be useful to map (select/deselect) categories to be included in the data pull.

Thank you.

Answers

  • Rocket J Squirrel
    Rocket J Squirrel SuperUser ✭✭✭✭✭
    The mapping is done using Tax Line Items. But I suspect one of your settings is off, causing a retirement account to appear with capital gains. Edit the account and make sure that "Tax Deferred" is set to Yes.
    Quicken user since version 2 for DOS, now using QWin Premier Subscription on Win10 Pro.
  • Henry112
    Henry112 Member ✭✭
    Thank you, Rocket J that should do it.
    However, the larger issue is the mapping of categories to the Tax Planner so i can select accounts and categories to auto populate. Example: Its pulling an incorrect number for Wages when i have my paycheck categorized as Salary and its ignoring that number.
    Any suggestions on that?
  • Rocket J Squirrel
    Rocket J Squirrel SuperUser ✭✭✭✭✭
    Tax Planner uses Tax Line Items, which you are generally free to assign to whatever categories you like. You can see which TLIs & categories the planner uses by clicking the link:

    Quicken user since version 2 for DOS, now using QWin Premier Subscription on Win10 Pro.
  • Ps56k2
    Ps56k2 SuperUser ✭✭✭✭✭
    edited August 2021
    also, working the other way - from .... Tools --> Category List -
    you can see the Category and the assigned Tax Line Item .... Category --> Tax Line Item --> Tax Planner fields

    QWin Deluxe Subscription - Win10
  • Henry112
    Henry112 Member ✭✭
    Yes, the problem is I don't see any of the W2 categories in the dropdown menu for some reason.
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    Have you ever created a Paycheck reminder.  I sort of remember at one time that some categories (and as such the tax lines) didn't get created until certain things were created like a paycheck reminder.
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  • Rocket J Squirrel
    Rocket J Squirrel SuperUser ✭✭✭✭✭
    edited August 2021
    Chris_QPW said:
    I sort of remember at one time that some categories (and as such the tax lines) didn't get created until certain things were created like a paycheck reminder.
    I see the W-2 TLIs in a brand new empty file.
    Time to find out exactly what version/release/edition of Q @Henry112 is using. Help > About Quicken. I wonder whether it's Starter edition...?
    Quicken user since version 2 for DOS, now using QWin Premier Subscription on Win10 Pro.
  • Rocket J Squirrel
    Rocket J Squirrel SuperUser ✭✭✭✭✭
    edited August 2021
    I can only make the W-2 lines disappear by purposely clobbering one of Quicken's program files. in C:\Program Files (x86)\Quicken there are 3 files, TAX.PRI, TAX.SCD, and TAX.THP which contain the TLI information. If I comment out W-2 from TAX.PRI, it disappears from Q's TLI list. But no one would ever do that on purpose. Still, you might want to peek in there and see that the W-2 lines are present and intact in all 3 files. If not (or maybe even if so), a reinstall would be in order.
    Directory of  C:\Program Files (x86)\Quicken\tax.*

    07/16/2021   1:17a             635  TAX.PRI
    07/16/2021   1:17a         13,667  TAX.SCD
    07/16/2021   1:17a         50,204  TAX.THP
                  64,506 bytes in 3 files and 0 dirs    73,728 bytes allocated

    Quicken user since version 2 for DOS, now using QWin Premier Subscription on Win10 Pro.
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