dividend and interest tax free or taxable

Question

When I set up quicken I created my own categories.  I put 1. income and under that I put A. dividend income B interest income etc.  Now I see that I'd like to use quickens default required categories - partly because it includes taxable vs tax free categories and partly because I think quicken would work better.  When I try to go back and edit the previous transactions for this year I cannot get those default categories to show up as an option in the drop down menu, and even if I type in the work interest income for example, quicken won't use those default categories. Also, I wanted to modify the name to G. investment income so that all of my income categories would be at the top of the reports but Q doesn't let us modify those required categories.  Any ideas around that?
 Thank you😊

jacobs · Accepted Answer

You're correct; you can't modify the names of the required investment categories. Most other categories can be renamed if you wish.

The categories for investment income can't be used in a banking transaction, which is why they don't show up in the category drop-down menu. Investment transactions have to be recorded in investment accounts, using the "Type" field to specify Interest Income, Dividend Income, Reinvest Dividends, etc. Quicken uses those types of transactions to calculate the types of income so they are properly included in reports.