How to budget Return on Capital transactions

DK-MGIL
DK-MGIL Member
Since the Schwab connection update, my long term capital gain distributions are being categorized as RtrnCap. However, RtrnCap is not available in either the budgeting or the tax estimation modules of Quicken (Windows). So, I have to manually re-categorize transactions in my register from RtrnCap to CGLong. Either Quicken should correctly categorize transaction as provided by Schwab (CGLong) or Quicken should add RtrnCap to other modules.

Answers

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    The problem you've identified has been reported by others so, presumably, Quicken/Schwab (whichever one is at fault) is working on it.  Keep checking to make sure you're on the latest update.
    Returns of capital serve to reduce your basis in a security, it's a "cash" event but not an "income" event.  The correct answer here is that Quicken/Schwab must work to get LTCGs properly Categorized as an income event.
  • DK-MGIL
    DK-MGIL Member
    Quicken support (via chat) told me to download and install the patch QW27.1.36.48MPatch.EXE. I did as they recommended but it was not helpful. Same problem persists with downloads incorrectly reclassifying Schwab capital gain distributions.
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