Reports:Tax:Form 1040 shows no transaction (Q Mac)

Eric
Eric Member ✭✭
edited January 28 in Reports (Mac)
All other Tax reports seem to work just fine. But, the Form 1040 report returns "There were no transactions for the filter settings". All accounts and all categories are selected....and "Not Customized"

Best Answer

  • Jon
    Jon SuperUser, Mac Beta Beta
    edited December 2022 Answer ✓
    These are the tax items that Quicken thinks are associated with form 1040:

    Sick & disability pay
    Taxable fringe benefits (for example, company car)
    Alimony received & paid
    Social security income & taxes withheld from SS
    Railroad retirement income & taxes withheld from that
    Retirement contributions (IRA/Keogh/SEP/SIMPLE)
    Early withdrawal penalties
    Estimated tax payments
    Student loan interest
    Educator expenses

    I don't think there are many Quicken categories linked to these tax items by default; student loans are the only one I see. Most of the standard income & tax withholding categories are linked to either the W-2 form or the various 1099 forms in Quicken so they'll show up in the Tax Report but not on the 1040 report. 

    Quicken Mac subscription. Quicken user since 1990.

Answers

  • UKR
    UKR SuperUser ✭✭✭✭✭
    Are the report's Date Range and/or Tax Year values selected correctly?
  • Eric
    Eric Member ✭✭
    Year to date, just like all the other schedules that work. And “not customized” as stated above, which means all accounts and all categories.
  • JSE
    JSE Member ✭✭
    Same issue.
  • lhossus
    lhossus SuperUser ✭✭✭✭✭
    Two ideas:

    1) Have you checked the "Tax Schedule" report?  It has a section "Form 1040" which should show the same information as the new "Form 1040" report.

    2) Do you have any items in Quicken that feed into the Form 1040? A lot of tax items feed into other forms and schedules, such as W-2 and Schedule A thru D.

    In my situation, Form 1040 has only two types of items: Estimated taxes, and Social Security income.
    Quicken Mac Subscription • macOS Monterey 12.6 on MacBook Pro 13" M1
  • Eric
    Eric Member ✭✭
    1. Yes, they show the same information - nothing.
    2. As I indicated in my original post, all other schedules work just fine, and include all relevant transactions.
  • lhossus
    lhossus SuperUser ✭✭✭✭✭
    edited December 2022
    Eric said:
    ...
    2. As I indicated in my original post, all other schedules work just fine, and include all relevant transactions.
    But the question is: do you have any items in Quicken that SHOULD appear in the Form 1040 report?

    Can you find any item(s) that belong in the Form 1040? If so, what category has been assigned to them? And, are the categories correctly tagged in the Categories window as Tax Related, with the correct Tax Line?

    Suggestion: Explore the Categories window. Pick a Category, double click on it (or click the edit pencil), click on the Tax-related check box, then click on the Form 1040 item under Tax Form/Schedule. Now browse the Tax Line list: do you have any of these items in Quicken?
    Quicken Mac Subscription • macOS Monterey 12.6 on MacBook Pro 13" M1
  • Tpasci
    Tpasci Windows Beta, Mac Beta Beta
    I too show 'nothing' in Tax report Form 1040.  For example, I would expect all my W-2 assignments to naturally populate Form 1040 Line 1.a [Total amount from Form(s) W-2].  To troubleshoot, when I open report Tax Schedule, my W-2 section appears as expected.  But when I open Form 1040, these W-2 items are missing (don't flow into report Form 1040 Line 1.a).  If I experiment with the 'Form 1040' category assignments [perform dummy assignments], then Form 1040 does get created (albeit with dummy line item assignments).  But my "W-2" assignments, I would expect, should naturally flow into Form 1040, but they do not. Quicken states Form 1040 "is the main form of the tax return", but Form 1040 appears to be some skinny down, incomplete version of the IRS form for Version 6.11.1, and thus, not very useful.  
  • Jon
    Jon SuperUser, Mac Beta Beta
    edited December 2022 Answer ✓
    These are the tax items that Quicken thinks are associated with form 1040:

    Sick & disability pay
    Taxable fringe benefits (for example, company car)
    Alimony received & paid
    Social security income & taxes withheld from SS
    Railroad retirement income & taxes withheld from that
    Retirement contributions (IRA/Keogh/SEP/SIMPLE)
    Early withdrawal penalties
    Estimated tax payments
    Student loan interest
    Educator expenses

    I don't think there are many Quicken categories linked to these tax items by default; student loans are the only one I see. Most of the standard income & tax withholding categories are linked to either the W-2 form or the various 1099 forms in Quicken so they'll show up in the Tax Report but not on the 1040 report. 

    Quicken Mac subscription. Quicken user since 1990.
  • Eric
    Eric Member ✭✭
    Thanks. I think you’ve answered the question. I guess I just expected Form 1040 to be like the real form, which includes all the tax relevant data with links to other schedules. Apparently, to Quicken, it is merely a list of categories linked to specific items in 1040 as you have listed above.
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