Schedule B - Interest & Dividends Report on Mac

Rafi Schwartz

Report fails to include dividends although the register clearly show transactions type "Reinvest Dividend", "Dividend income". This is run on a mac from an imported Quicken Windows file. When I run a similar report on the Windows version it does display dividends

Rafi Schwartz

a big thank you to all involved in getting this fixed 😀

jacobs

First, are the dividends in question in a brokerage account or a retirement account? Quicken Mac by default excludes retirement accounts from the tax reports, since this income is not taxable. (But you can choose to include them, or create a variation of the report just for your retirement account interest and dividends, if that's what you're looking for.)

I'm not seeing what you're describing in my Quicken Mac data file: When I run a Schedule B Tax Report, I'm seeing "Dividend Income, non-taxable" (for a tax-exempt bond fund), "Dividend Income" for individual stocks and mutual funds which have paid dividends, and "Interest Income" for interest paid on savings and brokerage cash accounts. (There is no distinction between reinvested dividend and dividends paid in cash, since these are the same for tax purposes.)

How recently did you migrate from Quicken Windows to Quicken Mac? I don't know if that's causing a problem. From your description, the transactions seem to be proper Quicken Mac Type=Dividend Income and Type=Reinvest Dividend transactions, so I wouldn't think the conversion from Quicken Windows is the culprit here.

Rafi Schwartz

Dividends are in a brokerage account and the migration took place last week

jacobs

As I wrote above, the Schedule B report is reporting correctly for me, so we need to try to figure out what's incorrect in your data that's causing it not to be reporting dividends and interest. So what follows is some suggested troubleshooting…

If you run a Schedule B report for a date range=last year, do you see any of your dividend and interest transactions or not?

I would try entering one of the dividend transactions manually — just a temporary dummy transaction — to see if it shows up in the Schedule B report.

If you generate the Schedule B Report, click Edit, click on the Account tab, click Selected Accounts, and see if the brokerage account in question is checked. 

It might be helpful if you could post a screenshot of one of your dividend transactions — in the register, and the detail of the transaction (you can obscure the amount if you wish) — to see if anyone here can identify something wrong with the transaction.

Rafi Schwartz

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Attached are screenshots of a dividend transaction and one showing the account set as brokerage. I have tried changing the relevant period to last year or two years ago but to no avail.

Jon

It may be that the Dividend Income and Reinvested Dividend categories are not flagged as tax related. If they aren't, then those transactions won't show up on a tax report. It's possible that got lost when importing your Windows file.

To check whether this is your problem, open the Categories window from the Window menu (or press Cmd-Shift-C). Then scroll down to the Dividend Income and Reinvest Dividend categories and see if there's a green check mark in the Tax-Related column. If there isn't you can double-click the category, check the "tax-related" box, and select the appropriate tax form and tax line.

Rafi Schwartz

Jon,

When I attempt to set Dividend as "Tax Related" the systems responds with The "Dividend Income" category is used internally by Quicken and cannot be modifies. The tax form selected is "Schedule B Dividend Income"

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Thanks

Jon

You can use the one under Personal Income instead. That one should already be set to Schedule B → Dividend Income. But to do that you'll have to change the transaction type to Payment/Deposit.

I don't know why you're not seeing transactions with the transaction type set to Dividend Income show up on the tax report. When I entered a test transaction just now with that transaction type it showed up on my Schedule B report.

jacobs

Hmm, this is puzzling. One thing which appears odd to me is you screenshot showing Investments sub-categories. A standard Quicken Mac file has 29 sub-categories, which users can't delete, add to, or modify.

Your screen shot shows only three sub-categories of Investments. You also have a main category called "Div Income" which shows it has been used in one or more transactions. I'm not sure what that "Div Income" category is or where it has been used; it shouldn't be there, because Dividend should be tracked automatically by Quicken using the built-in & required "Dividend Income" category. (You also have a "Dividend Income" sub-category of Personal Income; that shouldn't be needed, either.) And you don't appear to have any other categories alphabetically above Personal Income, and that, too, seems wrong.

There is a bug that comes up quite infrequently which causes some categories not to show up the Categories window even though the categories are available in transactions and reports. The developers have never addressed it, but I think some of us have discovered a way to fix that bug. But before going into that, I'll wait until you confirm these oddities. And I'd like to suggest an alternative for testing…

Just as an experiment (at least initially), you can export your Quicken Mac data to a file and then import it into a new file. Do this by selecting File > Export > Quicken Transfer File (QXF). Then do File > New and select Start from scratch. Then select File > Import > Quicken Windows File (QDF, QFX). Once you do that, explore the new file to see if all the Investment sub-categories are present, and if your dividend and interest transactions show up in the Schedule B report. If it works in this file, then you can go a little deeper to decide if you can use this new file or if anything is amiss with your data. (You'd have to re-connect your accounts for downloading, and re-create any custom reports you may have created in the past few days).

Rafi Schwartz

Jon,

Thanks, I have changed a single transaction and it seems to work though this seems to be a lot of work for something Quicken should have figured out.

Jon

@jacobs The screenshot only shows 3 subcategories under Investments because they were filtering on "div", so only getting the categories that started with those three letters.

jacobs

@Jon said: The screenshot only shows 3 subcategories under Investments because they were filtering on "div", so only getting the categories that started with those three letters.

D'oh! Thanks for pointing that out; I didn't look at the very top of the screenshot.

@Rafi Schwartz I'd still recommend you try the process I described above to export and import your data into a new file. If something went wrong in your migration from Quicken Windows, this process might fix the problem. It won't take too long to do the export and import to see if it makes a difference.

I wouldn't suggest changing transactions to Payment/Deposit and using a category you created. You'll have to do this for every historical transaction and continue to do it in the future. Quicken Mac is built to handle this automatically, and I think it would be better to continue to try to fix whatever underlying problem there is with your migrated data.

Rafi Schwartz

Jon,

With this being the case, how do I execute a mass "Type" change from Reinvest Dividend to Payment/deposit and "Category" change to Personal Income: Dividend Income?

Many thanks for your guidance and help

Jon

how do I execute a mass "Type" change from Reinvest Dividendto Payment/depositand "Category" change to 

Personal Income: Dividend Income?

You can't do a mass change on the transaction type, unfortunately; AFAIK you have to change that one transaction at a time.

You can do a mass change on the category. Just select all the transactions you want to change, right click on one of them and select Edit Transaction. In the pop-up dialog change the Category field, make sure there's a check mark next to it, then click OK.

jacobs

@Rafi Schwartz I’ll bow out if you don’t want to pursue my suggestion. The export/import would take just a few minutes of computing time with no action on your part. It might not resolve your issue… but it might.

Rafi Schwartz

Jacobs, I did follow your suggestion, export/import, and unfortunately it did not work. I am not sure what is the culprit but I just noticed that in the Windows version (Quicken Deluxe) the category associated with Dividend Income is "Div Income" whereas in the Mac version the name is "Dividend Income". I have attached screen shots of the two. Any suggestions on how to move forward are welcome.

Thanks

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Rafi Schwartz

Jacobs,

FYI - the Tax:Tax Schedule report in the Windows version produces the correct report with all the expected dividends

jacobs

I don't think the category in Quicken Mac should matter, because the program assigns it based on the investment transaction Type. That is, if you manually enter an investment transaction for interest or dividends, you're never specifying a category, just the Type of transaction. I assume that works the same on transactions imported from Quicken Windows, but I don't know and can't test it. (You'll note that the imported Quicken Windows category _DivInc is unused on any transactions in Quicken Mac.) And you said that if you enter a manual dividend transaction where Type=Dividend or Reinvested Dividend, that transaction does show up on the Schedule B report? If so, it clearly points at something in the way the imported transactions are being dealt with in Quicken Mac.

One thing which would help is if you go to Settings > Register and select Long Names. I'm curious where you are seeing the category Dividend Income whether it is the default one (Investments:Dividend Income) or the one you created (Personal Income:Dividend Income). It should be the former. I think it is, because your earlier screenshot of categories showed the latter was Unused. But assuming it's the former, then I'm stumped about why the transactions aren't showing up in the Schedule B report.

Out of curiosity, have you tried generating a Tax Schedule report? This is the original Quicken Mac tax report; all the other ones, like Schedule B, are just subsets of the main Tax Schedule report which were broken out last year. On the Tax Schedule report, do your dividends show up anywhere?

If we can't crack this, one possibility is simply editing all the interest and dividend transactions in 2023 to get them to show up, and just ignore that the ones in prior years don't show up in this report. After all, how likely are you to need a Schedule B report from prior years?

Rafi Schwartz

Jacobs,

Unfortunately the Tax Schedule report only shows the 4 transactions that I have manually changed to Type: Payment/Deposit Description/Category: Personal Income. All other instances are Type: Dividend Income Description/Category: Investments:Dividend Income.

As for your last suggestion, I can edit the 2023 transaction but what will happen with downloaded transactions in the coming months and years?

Thanks again

jacobs

Well, I think getting your next downloaded dividend or interest transaction will help immensely, as it should clarify whether there's something wrong with your data file or whether the problem is limited to the transactions which were converted from Quicken Windows. (For what it's worth, I haven't seen any other Windows to Mac converters ever report this as being a problem.)

Another quick thing to test: go to one of the dividend transactions and edit it, changing the Type from Dividend to Type=Interest. Save the transaction. then edit it again and change it back to Type=Dividend Income. Does it now show up in the Schedule B report or not?

Also, in your register, temporarily edit the Columns to show the Category column. ("Category" is a separate column from "Description/Category"). I just want to verify that for a dividend transaction, the Category column is also showing "Investments:Dividend Income". Here's a Dividend transaction, manually entered, in the register:

And here's that transaction when double-clicked to edit it:

I'm still not sure what we're looking for, as I don't understand why your transactions aren't showing up in the tax reports, so I'm just poking around looking for anything which may be different in your transactions than mine.

You said above that the tax reports only show the 4 transactions that you manually changed to Type=Payment/Deposit, right. I can't remember if you've tried this before, but what happens if you manually enter a new dividend transaction, using Type=Dividend Income, like the one in my screenshot above. Does such a manually-entered transaction show up in a Schedule B or Tax Schedule report?

The problem with editing transactions to be Type=Payment/Deposit is that you'll have to do that forever. That's not the way Quicken Mac is built to handle investment returns, so although you can manually edit it to work that way, you're swimming uphill and will have to do this on all future transactions. So that's why I'm more interested in trying to figure out what's wrong with your converted transactions to see if you can get settled for 2023 and beyond.

Rafi Schwartz

Jacobs,

Here is a screen shot of a manual entry which unfortunately does not show in the Tax Schedule or Schedule B report

jtkqboston

I've just converted a multi-year Quicken Windows data file to Quicken Mac.

I'm spot checking various things, and noticed that the built-in tax reports are missing multiple transactions. For example, a brokerage account has a dividend transaction. That's categorized as Investments:Dividend Income.

But that category is not marked as tax-related in the Categories list. If I attempt to add a tax line item for that category, I get the message 'Cannot edit the selected category. The "Dividend Income" category is used internally by Quicken and cannot be modified.'

So how do I get the built-in categories to be recognized by Quicken Mac, both built in reports and tax export (TXF), as tax-related?

Quicken Premier, Version 7.2.3 (Build 702.49949.100)

jtkqboston

Looking at some other Mac data files I have, it seems this new one differs from all the others: the built-in "Required" investment categories are missing the tax-related settings. I need a way to repair that.

The broken file:

Another file:

jtkqboston

I just ran into this myself, I posted a new thread (oops, moderators: please merge this):

https://community.quicken.com/discussion/7940389/how-to-get-built-in-tax-reports-and-exported-tax-report-txf-to-include-built-in-categories

In my case, the conversion from Windows to Mac resulted in a data file with the built-in categories not marked as tax-related, and I can't fix them to be tax related. Anybody know how to force the tax settings for the built-in categories?

When I attempt to fix it for "dividend income" to make it tax-related to schedule B, dividend income, I get:

jtkqboston

https://community.quicken.com/discussion/comment/20385472#Comment_20385472

@jacobs asked what we are looking for as a difference? I believe my trouble is that the built-in categories (like Investments:Dividend Income) have lost their tax-related linkages. @Rafi Schwartz , yours looks similar, and you also were unable to correct that (got the same error message from Quicken denying us access to change the tax related setting)?

Rafi Schwartz

waiting to see if anyone has a suggestion. BTW, subsequent downloads, following the Windows-Mac conversion, containing dividend income are still not listed by the tax related reports.

jtkqboston

Oh, now this is interesting, and concerning. I was following @jacobs suggestion to start over and import an exported copy of the current file.

I created a brand new file (start from scratch), and then before I even imported into the file, I checked the investment categories and they are all missing the tax-related settings.

@Jon and @jacobs can you try making a brand-new file and look at its category list? Using Version 7.2.3 (Build 702.49949.100)?

jtkqboston

MODERATORS: please merge this into

https://community.quicken.com/discussion/7940110/schedule-b-interest-dividends-report-on-mac

Jon

Made a new file, no Investments subcategories were tax-related. There were other tax-related categories, mainly in Business, Personal Income, and Taxes.

In my regular file, most Investments subcategories are tax-related (and cannot be modified to remove that). So it does look like something got lost along the way.

jtkqboston

I'll talk to Quicken support tomorrow to report this and see if they can give me a way to correct the tax assignments in an existing file.

As a work-around, I can use one of my other quicken files (that has the tax assignments correct) as an "organ donor". You might need to go back in time to create a Quicken Mac file prior to the bug, so you have a suitable file to donate its correct categories.

Export the file with all the transactions to a .qxf file.

Copy the "organ donor" file (with Finder), open it, delete all its accounts. Delete all its non-required categories. Detach it from quicken on the web. (Maybe there's even more you need to do to clean it up?) Copy the result with Finder. Into this second copy, import the export of your desired data file.

I did that part, and yes the tax reporting seems much better (I haven't thoroughly reviewed it). But I'm left with having to re-do a whole bunch of post-import setup all over again: quicken web settings, register settings, online download settings, bill pay linkage settings, etc. What a pain…hence why I'll be pressing Quicken support instead to give me a way to fix a Quicken Mac file, and save me from all this drudgery.

Boatnmaniac

I have forwarded your request to the Moderators.

For future reference: To make a request like this to the Moderators you can click on the flag below the post in question and on the left. Then click on Report and select Move. Then you can make the request.