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Feedback on new R48.8 "Income by Security" report

mikeweberatl

I love the new "Income by Security" report released in Win 48.8!

One issue… not sure if this was by design or its a bug. If you have a security in your account, but it has no income, it does not appear on the report. If you, for example, have the report show just DIVIDENDS then any security with no dividends for the selected time period disappears from the report. That caauses your total MKT VALUE and INCOME % of Market Value to be inaccurate. Seems like it would be better to include everything currently in your holdings to appear on the report and then just show zero for the income amounts as applicable.

Also, it would be nice to have the SUBTOTAL options to have choices of time (MO/YR/QTR.) It would also be helpful to have a TOTALS ONLY option like many other reports have.

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Comments

Kay Voorhees

I too love the new report. One additional issue, however, is that it appears to ignore any security that has “reinvested” income.

Rocket J Squirrel

It would be nice if the report were sortable.

unknown

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gwwilliams3

The new Income by Security report is very good, but I am not clear on what the "Other Income" column would actually capture (if it is selected/included in the report) -i.e. where does that column actually pull data from? What I would like it to capture is all of the Capital Gains Distributions (Long, Mid and Short Term) so the report overall would capture "Total Distributions" (i.e. Interest + Dividends + Capital Gains Distributions). Is there some way to make this happen (perhaps by defining the Capital Gains Distributions categories as sub-categories of Other Income in the Category list)? Please advise.

MFK

Great report but it is lacking one thing for me, I would like to see the dividend yield. I know it is available as I use it on the Investing tab. Thanks for considering this.

leishirsute

I got a valuable income report suggestion from another post on here.

Got to portfolio view, look at any report grouped by security that provides Income and Income % columns and change Options→ Portfolio preferences for a date range of interest.

This gives me the info I need to determine Income by Security. It includes capital gains distributions and reinvestments. It's somewhat surprising to see the assets that generate more income from capital gains distributions than those that offer dividends.

Jim_Harman

The "Income as %" column in this report is potentially very useful, but the numbers it presents can be misleading.

The results are not annualized, so if the period is less than one year (YTD for example), the reported percentage may be lower than expected and if it is more than one year, it may be higher.
The results are based on the holdings at the end of the period, so if you have sold part of a holding near the end of the period, the results may be higher than expected, or if you have increased your holding, the percentage may be lower than expected.

It is not clear how the calculation could be changed to be more useful, especially for periods of less than one year. For longer periods, an IRR calculation might work.

Also as requested in the original Idea, I think the totals would be more meaningful if there was an option to include all selected securities in the selected accounts, even those where the total income is zero.

It would also be useful to be able to include banking accounts where the Account Intent has been set to Investing, for example for those who have bank CDs that they consider part of their investments. This issue with account intent affects other reports in odd ways as well. [Update: I see these accounts are included in the report, but you must check the Other Income box to see the interest. Also if you subtotal by account, the account name is blank in the graph legend and the account does not get its own section in the report. In the report, the account's income (marked -Cash-) is lumped in with another account.]

leishirsute

@Jim_Harman I usually set the Portfolio preferences options for several years and take an average when using income%

I've found using Income % to be more useful than IRR when trying to anaylze income regardless of return. IRR can be a negative value, income%'s lowest value is 0%

I agree that one has to be mindful of securities that are short term or whose purchase and sale are not at a year-end. However, it is easy to set year boundaries in the portfolio view for securities that are long term.

Jim_Harman

IRR will go negative because normally it includes unrealized gains and losses.

I have not studied Income % in the Portfolio views. It appears that it is based on your cost basis for the security and the total income from the portfolio "calculations from" date to the "as of" date. If the security was purchased long ago at a much lower price, the percentage may not be very meaningful.

leishirsute

@Jim_Harman If the security was purchased as a much lower price, it still gives the income% off the cost basis regardless of time purchased. I just change the Options → Portfolio preferences and change the "Show return calculations from" date for 1 year (or 2 years, etc. ) for a beginning range to get an idea of the income from my cost basis over a year (2 years, etc.). The As Of date can be changed of an ending range of data. Combining changes in the two fields, the period of Income % info displayed can be tailored.

I find it to be more accurate than IRR. Also, it's a good measure against Dividend Yield. They usually match or are close for dividend income investments for a 1 year period.

Since the income% is measured off of cost basis, the market value can flutuate and that won't impact the income% reported.

Frank2021

Income by Security Report needs to show return of capital. Distributions for MLPs show as return of capital.

bmbass

The report definitely needs to be updated to include capital gains distributed by the security. MANY securities include both dividends and capital gains monthly/quarterly and part of the yearly income from this security are these capital gains. Either give it is own column or include it in the "other income" column (which currently is 0 for all my securities), but it needs to be included somewhere.

Pelican21

This will be a great report if you include capital gains distributions. Otherwise, it's just kinda useful

dnelson

I have a Security account that has a tax-free bond mutual fund in it with various other securities also in it. When I run the Income by Security report all the securities show the respective income except the report does not show the tax-free bond in the report at all. Clicking the other box does mothering,

I have another account with just tax-free bonds in it and clicking the other box does show the income in the other column.

smgray

I followed directions in email from Quicken to get this report, but don't have a drop down menu for "income by security" under reports.

I have Quicken Deluxe vR49.29 Build 27.1.49.29 Chrome win 10

Rocket J Squirrel

https://community.quicken.com/discussion/comment/20360135#Comment_20360135

That report is not in Deluxe. It's only in Premier and Home, Business, & Rental.

Ed V

I like this report, however, there appears to be an issue if I include the Unrealized Gain column. It is showing Unrealized Gain for securities that were sold and have zero shares. If I double click on any security with zero shares currently held it is showing unrealized gains/losses on the date the security is sold. This is correct for dates when partial shares are sold, but not if all shares of the security are sold. This shows an incorrect total income for each security. It does however show a correct total market value.

Am I missing something?

Ed V

OK, I think I figured it out. The Unrealized Gain Is adjusting for YTD. If I include all dates it is correct. Solved my own problem,,,

Ed V

The report is not including non-qualified dividends (_DivIncNQ category) for securities. The Current Investing Activity report properly includes these in Dividends.

Jim_Harman

@Ed V _DivIncNQ does not appear to be one of Quicken's standard Categories. It must be one that you created.

There is a Category _QualDivInc for Qualified dividends and normally you would use _DivInc for gross dividend income. Those are the two numbers you enter on your tax form.

Ed V

Thanks Jim.

I've been using _DivIncNQ for a long time, and all the other investment and income reports pick it up correctly. I guess I could have created it (I don't remember), so I'll figure out a workaround.

Ed V

So I was able to create a quick workaround. I changed the category from _DivIncNQ to _DivInc and filtered my tax reports on the memo field to exclude "DIV NQ-". I only have a few nonqualified dividends and I always prefixed the memo with DIV NQ- so it was a simple fix.

Thanks for your feedback Jim!

Jim_Harman

Perhaps they could make the new report customizable so you can decide which Categories to include.

What I do about Qualified vs non-Qualified dividends is to use Quicken's standard security income form, which classifies all taxable dividends as _DivInc. Then on the Interest/Dividend page of the Tax Planner I enter an estimate of the portion that is Qualified. These are the numbers you need for the IRS. The Planner uses the lower tax rate for the Qualified number and subtracts the Qualified from the _DivInc and taxes the remainder at your full rate.

NebularNovice

> @Rocket J Squirrel said:
> That report is not in Deluxe. It's only in Premier and Home, Business, & Rental.

Thank you very much for pointing this out.

Any suggestions on how we can pound on the folks who write up Quicken features to at least disclose, if not emphasize, which Quicken version they are writing about? It is REALLY annoying to see a potentially interesting feature described and waste time looking for it in Quicken Deluxe, which I would bet is the most common version most of us Quicken users have.

Quicken Jayashree

Hello, thank you all for the feedback..

The report IS sortable. Please click on the column headers to sort.
We have added an “include zero-income securities” option.
The report includes Capital Gains distributions in the Realized Gains column (defaults OFF). Return of Capital is not “income”, in Quicken’s investment accounting.

We are working on couple more enhancements.

John543

Above, on 12 May, Ed V commented about unrealized gains showing up for sold securities for partial period reports. He subsequently commented: "OK, I think I figured it out. The Unrealized Gain Is adjusting for YTD. If I include all dates it is correct. Solved my own problem,,,"

I agree, that's what it is doing, but still think it is a serious bug.

When a security held for multiple years is sold during the current year, the total unrealized gains for the previous years still show up in the totals on a Year to Date report. Those Unrealized Gains don't exist anymore, and even if they did, have nothing to do with the current year, which is the reporting period.

This makes the Unrealized Gains and Total Income columns incorrect, which greatly diminishes the usefulness of the report.

Otherwise, really like the report.