Tax Planner 2023

Ray Cosner

1/1/23 -- Just launched Q, checked Tax Planner.  No option yet to select tax year 2023 (as expected), options are 2021 and 2022.  With 2022 selected, TP informed me I had tax due in excess of $800,000.  That got my attention, on 12/31/22 it said I was going to owe about $1,200 for 2022.  On examination, the details in many tax categories said it was using Q data for 2023, which was bizarre.  The full-year projection methods had changed, many of them now project the full year (2023?) based on average to date.  My pension pays out on the first of each month, so that amount was already in my registers and it got multiplied by 365 for a full-year projection.  That produced the extraordinary numbers.  I changed the tax year to 2021, my only alternative, and my tax due dropped to $20,000.  Still far too high, but now only 2% of what it was.  Then I changed back to 2022 and it said I owed $40,000.  Can't make up its mind, I guess.

Tax Planner is always flakey the first couple months of a new year (I'm a 25-year user), but this behavior is new.  The unexpected new developments are that (1) its data was seriously flawed with either 2021 or 2022 selected, and (2) several category details said it was using 2023 data!!!  If you need good estimates for 2022, I think your only option may be to wind back your computer's clock.

Quicken Premier subscription R45.21, running on Win-11 Home.  

NotACPA

The tax return that you prepare in 2023 is for 2022.  Thus is only provides for 2022 at the most recent, and 2021 in case you need to submit an amended return.

2023 won't be added to the tax planner until later in the year.

markus1957

Quicken blew the release of the Tax Planner update because the new product manager and developers screwed it up. The last 5 years have been pretty painless, but the new team just whiffed on it.

Umesh Patel

Worst part is it now still don't show correct data for 2022, when you choose 2022, data is based on 2023. Since the subscription based model, it is getting worst.

wehaz204

Had the same experience as Ray did with the planner populating 2022 with 2023 data. Seems rather odd that could happen. I am just a first year user of the planner. Seems clunky especially switching through the scenario portion. With this poor performance I may only be a 1 year user! Hopefully there is a reliable fix coming that includes which tax, projected or scenario you are running outside of the planner in the base page.

Rocket J Squirrel

Umesh Patel said:

Worst part is it now still don't show correct data for 2022, when you choose 2022, data is based on 2023. Since the subscription based model, it is getting worst.

Try the workaround shown in this post:

https://community.quicken.com/discussion/comment/20327836/#Comment_20327836

Umesh Patel

> @Rocket J Squirrel said:
> Try the workaround shown in this post:https://community.quicken.com/discussion/comment/20327836/#Comment_20327836

Oh wow that works! Quicken still need to fix for the current year!

Jim Berg

When tax year 2022 is selected, Quicken is using 2023 estimated data instead of the actual data for 2022. The tax planner works fine prior to 1/1/23 but after 1/1/23, it begins to use 2023 even though the tax year is 2022. This appears to be a bug. Is Quicken going to fix this bug? I have had this happen in prior years and I typically have to reset my computer clock to the prior year in order to get the planner to pull in the correct data. If I tell Quicken that my tax year is 2022, why would it think of using 2023 data (duh) instead of the data is has for 2022?

Rocket J Squirrel

What release of QWin are you on @Jim Berg ? Update to the latest, R46.9, and see if the problem is resolved.