Is there a category for "state exempt" interest?

Question

I have read multiple recommendations for recording US Treasury bill interest. Generally, the 'discounted '  purchase price is used as the sales price and the interest is entered separately as intinc because it is federally taxable; but, it is exempt from stare taxes.  Can a category be created for this?  ie. 'Int-State Exempt'

ScottofPA · Answer

Thank you Mark1104.  FYI: Your solution does work in an investment account; and, for me, a new category had to be created.  I created the category State Exempt as a subcategory of "Interest Inc" [i.e. "Interest Inc:State Exempt"]. In creating the subcategory, I chose "schedule B: US Government Interest" as the "Tax related category" under the "Tax reporting" tab. In entering the transaction, I used the "MiscInc" "Action" and selected my newly created subcategory "Interest Inc:State Exempt" under the "Category for miscellaneous" drop down.

Mark1104 · Answer

I have my Bonds as a "banking" account and not an "investment account:, so what I proposed would work.....to me, these are 'near cash' , hence a "banking account"

q_lurker · Answer

I suspect getting an investment account transaction recorded that way will require use of a MiscInc transaction where you can then apply that specific category. You can’t assign a category based on the security. That is, you can’t direct Quicken to use that category for your US Treasury bill interest transactions automatically.