Categorization of Taxable and Non Taxable Transactions

When downloading brokerage transactions, Quicken can differentiate between Interest and Dividends, Capital Gains, etc BUT not between taxable and non taxable. For example, all non taxable municipal bond interest is categorized as 'Interest'. Allowing categorization would be a great enhancement of Quicken software.

Comments

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    edited November 21
    For the Muni bonds and other tax exempt securities, go to the Security Detail page, click on Edit Details, and check the Tax Free box.

    For accounts such as IRAs where the investment distributions are not taxed, open the Account details and set Tax Deferred to Yes. 

    With these selections, tax free the interest and dividends will be recorded as _DivIncTaxFree and _IntIncTaxFree in the Investment Income report. This report also includes tax deferred account by default but you can customize it to exclude these accounts if you want.

    The Tax reports exclude income from Tax Free securities and tax deferred accounts by default.
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