New Quicken H+B, want to load last years data (already have current year)

ChrisM
ChrisM Member ✭✭
Any comments on my situation are very welcome. After I retired, stopped using Quicken several years ago. I just got the newer version and have set up the bank account connection, so have the recent (2022) bank data. I'm working on re-learning, and setting up accurate categories so it will help with TurboTax (still use that each year). Then, duh, thought about 2021 taxes, not yet filed. I went to the bank site and downloaded 2021 activity into a CSV file. Questions;
1. Haven't yet found a way to ingest that into QH+B. Advice?
2. Should I remove the starting balance line before ingesting or edit it after? (or maybe it's automatic?)
3. Maybe the ingestion of QH+B data into TurboTax isn't worth the effort for 2021. Any comments welcome. Thanks.

Comments

  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    1. You may want to consider using ImportQIF.
    2. You may do it either way.
    3. I wouldn't do the additional work solely for TurboTax.
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    1. You can try my free program ImportQIF (http://www.quicknperlwiz.com
    2. You will need to change the date and amount on the opening balance transaction to reflect the new starting point.
    3. This subject comes up every year at tax time, and I personally can never understand why people think this is useful.  You are importing a year's worth of data that has to be properly categorized or it is useless.  And most of what you are putting into TurboTax is available on 1099s that you might even be able to import directly.  And it is the 1099s that are official, not what Quicken's comes up with.  About the only useful information I see would be categorizing business expenses that aren't coming from 1099s or some other report like say from PayPal.  And then if your financial institution's reports like for credit cards might serve the same purpose without the work of trying to get it all correct in Quicken just to do the export/import.  And speaking of that even there it is sometimes better just look at a report in Quicken and put the number in manually.
    Signature:
    (I'm always using the latest Quicken Windows Premier subscription version)
    This is my website: http://www.quicknperlwiz.com/
  • ChrisM
    ChrisM Member ✭✭
    Thanks to both of you. I agree that it's not worth the effort just for last year's tax return. But I will stick with Quicken H+B to have a better grasp on things going forward. BTW, what's the better name for a genius?. Sherlock or Chris?. Hmmmm.
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