Death & Taxes: why can't Quicken Home Automatically Compute my Future Death Tax Liabilities?
MRT1953
Member ✭
I need Quicken to estimate my estate's tax liability for unrealized capital gains for both registered and non-registered investment accounts in Canada, the USA, and elsewhere, so that Quicken Net Worth graphs & reports show the true total NET value in Net Worth reports.
To test the concept for one of the registered investment accounts in question, I created a matching Unrealized Gain Liability account under Property & Debt, and manually entered Unrealized Gain month by month for a year (e.g., Unrealized Gain on Month 2 - Month 1 x my estimated Tax Liability, thus both increases & decreases). My Tax Liabilities (USD & CAD) are only guestimates since the applicable marginal rates will based on projected annual income. However, I cannot link this Liability account to the relevant investment account as I can with other Property & Debt accounts linked to their individual loans. This manual process is untenable for multiple accounts, as is downloading Quicken files monthly...
All the data needed for computations has been tracked in Quicken for the last seven decades in multiple currencies, and I need to be able to manually enter:
1) My percentage share of the account (e.g., 100 % for my standalone accounts, or 50 % for my accounts shared with my wife, or xx.x % for accounts shared with kids/executors)
2) My applicable marginal rates, based on projected annual income
for each account with unrealized capital gains.
Anybody else in the Quicken Q'ommunity needs this value-added functionality?
To test the concept for one of the registered investment accounts in question, I created a matching Unrealized Gain Liability account under Property & Debt, and manually entered Unrealized Gain month by month for a year (e.g., Unrealized Gain on Month 2 - Month 1 x my estimated Tax Liability, thus both increases & decreases). My Tax Liabilities (USD & CAD) are only guestimates since the applicable marginal rates will based on projected annual income. However, I cannot link this Liability account to the relevant investment account as I can with other Property & Debt accounts linked to their individual loans. This manual process is untenable for multiple accounts, as is downloading Quicken files monthly...
All the data needed for computations has been tracked in Quicken for the last seven decades in multiple currencies, and I need to be able to manually enter:
1) My percentage share of the account (e.g., 100 % for my standalone accounts, or 50 % for my accounts shared with my wife, or xx.x % for accounts shared with kids/executors)
2) My applicable marginal rates, based on projected annual income
for each account with unrealized capital gains.
Anybody else in the Quicken Q'ommunity needs this value-added functionality?
Tagged:
0