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R52.19 Tax Summary lists a Stock SOLDX as a Qualified Dividend

lawrs21813

On up to date Windows 10, both Quicken 52.19 and the version I had just before it 52.15 I believe: In the Tax Summary Report, a Stock that was SOLDX appears😉 as a Qualified Dividend. I tried revalidate file and Rebuild Investing Lots, but No Joy. Any constructive ideas on 1- how this occurred, 2- how to correct it would be much appreciated.

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q_lurker

Any chance you could try a Sold transaction with a separate XOut or withdrawal transaction? I have no clue why this would be showing this way.

All comments

Tom Young

I take it that other SoldX transactions are properly showing up in the tax reports?

First thing I'd try would be to delete the transaction and manually re-enter.

Jim_Harman

That's odd. A stock that is sold might produce Realized Gain, but not a Qualified Dividend. Is the amount of the dividend the same as the proceeds of the sale, or is it some other amount?

One thing you might try would be to back up your file (just in case …) and delete the SoldX transaction. Make sure the amount transferred is also gone from wherever it went, then re-enter the SoldX. With luck, that may resolve the problem.

mshiggins

Check the Tax Line Item assigned to "Transfers out" of the investment account.

[See the Tax Schedule button at the foot of the Edit Account Details dialog of the investment account.]

-JP

lawrs21813

UPDATE:

Edit Account Details: including Tax Schedule button led to no solutions

After the SOLDX, the X means the proceeds are transferred to the Cash Register of the Brokerage Account register that is involved.

For that receipt transaction, in the cash register, I chose the GEAR icon leading TAX LINE ITEM ASSIGNMENT.

That pane showed Standard List chosen, which should work to label the transaction a Cap. Gain for tax purposes, but not, it declares it a Dividend, and a Qualified Dividend at that.

So I chose Extended LIST: and found Sched. D Long-term Gain/Loss. Even with that chosen, Quicken still declares SOLDX as a Dividend for tax purposes!

q_lurker

Any chance you could try a Sold transaction with a separate XOut or withdrawal transaction? I have no clue why this would be showing this way.

mshiggins

I can consistently reproduce the problem by assigning the Tax Line Item "ScheduleB:Qualified dividend" to the Tax Schedule Information "Transfers Out" field in the INVESTMENT account. [in both R50.16 and R52.20]

Removing that tax line item assignment (keeping the "Transfers out" field blank) in the investment account eliminates the problem.

Essentially the same problem can be created by assigning "Schedule B:Qualified dividend" to "Transfers in" in the account where the SoldX cash was transferred.

-JP