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Estimated Quarterly Tax Payment for 2022

maxwelwp

In the past, Quicken would ask if an estimated tax payment was for the current year or last year. Upon entering my final est. tax payment for Q4-2022, Quicken simply enters it into the register without asking for year and assumes it is for 2023. Jan. 15 2023 is the due date for payment of est. taxes for 2022.

I have the correct tax line assigned to the category (as was used in past years).

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Comments

jfclague

I always leave the transaction date as 12/31 even though is is paid in Jan.

Chris_QPW

Where are you seeing this "assumption"?

The tax reports know to include the January payment in the last year.

Image: https://us.v-cdn.net/6031128/uploads/editor/4c/grahd8qgn189.jpg

maxwelwp

Apparently Quicken partially knows to include the est. taxes paid in Jan2023 for 2022. Upon looking deeper, the following is identified not as an "assumption".

1) Reviewing tax Summary report for 2022 DOES include the Jan. 2023 payment of est. tax
2) Reviewing tax Summary report for 2023 DOES NOT include the Jan. 2023 payment of est. tax for 2022
3) Reviewing the Planning tab, Tax Center, Tax-Related Expenses YTD, the Jan 2022 payment of est. tax IS included and what initiated my concern.
4) Reviewing the Tax Planner for 2023 in the Tax Payments section, it also does not include the Jan, 2023 estimated tax payment for 2022.

Guess bottom line, the 2022 est. tax payment paid in Jan. 2023 should not appear in the 2023 Tax-Related Expenses YTD either as it is not a tax related expense for the current year.

bkaczmarek

I have a related question -- though I'm not sure I followed all the details above :-|

My TAX SUMMARY report is a mixed bag. Is there a setting I need to fix?

Fed works well, but not State nor NYC:

- For Tax Fed, the Report shows what I would hope for: it shows a Jan 2023 estimated payment in the 2022 report, (and excludes the 2021)

- For Tax State and NYC, the Report behaves differently - including the Jan Estimated payment from prior year rather than for this tax year

I have tried re-entering to see if it will prompt me with the question "Is this related to 2022 tax?" but I haven't been able to see that question pop up.

The settings - as far as I can tell - are equivalent for all three. What am I missing? How do I get State and NYC to work as well as Fed? I'd like the Tax Summary to show estimated for the tax year. (For banking purposes I'd prefer not to predate the Jan payment.)

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