How does Quicken know to categorize some interest income as non-taxable

Jack Scripps
Jack Scripps Member ✭✭✭
edited January 2023 in Download, Add/Update Accounts (Windows)
Other interest income is classified as taxable. How does Quicken know? I have checked and two bonds should both be shown as non-taxable, but one is reported as taxable and the other is not.

Best Answer

  • Boatnmaniac
    Boatnmaniac Quicken Windows Subscription SuperUser ✭✭✭✭✭
    Answer ✓
    Go to Tools > Security List > click on the bond in question > Edit Details.  Is the box for Tax free checked?  If not, check it.

    Quicken Classic Premier (US) Subscription: R59.35 on Windows 11 Home

Answers

  • Boatnmaniac
    Boatnmaniac Quicken Windows Subscription SuperUser ✭✭✭✭✭
    Answer ✓
    Go to Tools > Security List > click on the bond in question > Edit Details.  Is the box for Tax free checked?  If not, check it.

    Quicken Classic Premier (US) Subscription: R59.35 on Windows 11 Home

  • Jack Scripps
    Jack Scripps Member ✭✭✭
    Yikes, is my face red?! I must have overlooked that box a dozen times as I checked to see the settings of each of the securities in question. I feel like a dummy! Thanks.
  • Boatnmaniac
    Boatnmaniac Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited December 2022
    No problem.  We all have our "duh!" moments!   :D   Normally, when a security is downloaded from the brokerage or when Asset Classes are downloaded the tax status is automatically entered.  But sometimes it just needs to be manually updated to reflect that.

    Quicken Classic Premier (US) Subscription: R59.35 on Windows 11 Home

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