Is there a "_IntIncTaxFree" designation similar to "_DivIncTaxFree"

MickeyP

In Roth accounts it is common to have Dividend and Interest income. When running Income reports, the Roth dividends are noted as "_DivIncTaxFree" (great for planning and understanding income); however, the money market accounts in a Roth get lumped in with "IntIncome," and are not noted as "Tax Free." Is there a fix for this, or what is the reason for this?

imdcareys

I don't believe there is a way to make Quicken treat all Interest Income in a Tax Deferred account as Tax Free. At least I haven't found it. I have a Schwab account that sets the Action to Deposit instead of Interest when the source is from the Cash Balance and those are automatically set to _IntIncTaxFree. That account is set as Tax Deferred, and Show Cash in a checking account is set to NO.

You might be able to change the the category to _IntIncTaxFree.

If you can't see that category, try going to the Tools > Category List, check the box for Show Hidden Categories at the bottom of the Category List dialog.

Scroll the list all the way to the bottom to see all of the Categories that begin with an underscore. "_IntIncTaxFree" is just below "_IntInc" in the list. Uncheck the checkbox in the Hide column for that account:

Click Done.

-Carey

Jim_Harman

The _DivIncTaxFree and _IntIncTaxFree Categories are for Securities like Muni bonds and tax exempt bond funds you have marked as Tax Free. The income from these securities is always tax free, regardless of what type of account they are in.

IRA and Roth accounts should be marked Tax Deferred in their Account Details. This will exclude all their income from the Tax reports. Income form securities in these accounts is still income, even though it is not taxed.