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Quicken Classic for Windows
Registers & Transactions (Windows)
Can I add Tax Line to multiple entries?
John52
I need to add tax line to multiple entries for 2022 nearly all of about 24 entries.
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Chris_QPW
If you are directly adding tax lines to transactions in the register, no you can't apply it to multiple transactions at a time.
Note the normal way for transactions to have categories that have the correct tax line.
John52
Thanks but it’s not clear to me how to add a tax item to the category Wages. It is assigned in my business checking account but doesn’t work to add it into my personal checking account. Does it need to be a different category name like Salary or W-2 Wages?
Chris_QPW
To assign a tax line to a category bring up the category list: Tools -> Category List
Right click on the category and select Edit. Select the Tax Reporting tab. One there you can select whatever tax line you want. Note that if you want this to be a business you would need to use a tax line from the Schedule C, whereas for personal income that would be the W-2. I don't have the Home & Business edition so I don't know if it will treat "Wages" differently and automatically assign a tax line if it is in a business account.
Also, there should have already been some categories created with the right tax line for W-2 wages you might want to look through category list, to see what categories are already assigned to the W-2 tax line(s).
John52
I appreciate your responses! Part of my issue is that I have way to many categories over the years. I need
to clean them up. I would like to have only those that relate to doing my taxes or assembling the info
for my accountant. Suggestions? My categories are not grouped as they should be. Business expenses are listed under
personal expenses and I don't see how to get them grouped correctly business under business personal under personal etc.
Chris_QPW
As far as business vs personal go, Quicken separates the category groups based on the tax line. Tax lines that are business like Schedule C will be put into the business category groups. A similar thing happens for rental tax lines.
Past that there is the actual organization of the categories themselves. You can rename them by editing the category in the category list (right click on the category). There is also a merge for moving transactions between categories. And on the Tools menu there is Recategorize... for moving transactions between categories.
As for what the structure of the categories should be, well that tends to be a personal preference.
I just went with what was the default when I created my data file. There is a new "long name" default (Mint like) for new users, which I don't like. If you create a new data file, you might be able to look at the categories it gives by default to get an idea of what you might want. Note I believe, this preference controls what categories will be created by default in the new data file:
Edit -> Preferences -> Setup -> Use New Subscriber settings for new files, accounts, features. But I haven't tested it.
John52
Not all my categories are pulled for my 2022 annual register report for my tax accountant. Namely Auto insurance paid by my business of over $1500 is not in my category report. Tried multiple ways to fix. The only auto insurance showing in the report is AAA.
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