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7.5 Breaks Income Expense Widget (Solved)

Zoolook

This is solved

Hi - I just downloaded and installed the 7.5 update and the income/expense widget is now pretty broken Income seems to include dividends and interest from Investment Accounts, which might be OK, but it also includes realized gains from sales in investment account. It does not include any expenses from investment accounts, so reinvested dividends show as income with no expense. Additionally if you sell stock for $500 and buy a different stock for $500, it shows as $500 income with no expense.

Can this please be fixed. I did not see this behavior in the beta BTW, but could have missed it as my beta file would not have shown these investment movements.

$25k of the above is sales of securities, which should be offset by same value purchases in the same account. I don't think investments should be part of income/expense and until 7.5 were not.

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Comments

jacobs

@Zoolook First, the Income & Expense Dashboard card has indeed included investment income in the past. It was one of the primary complaints when the Income & Expense card was released last year. Some people want to see all investment income. Some people want to see investment income but only for non-retirement accounts. Some people want to see no investment income. (If you're retired and living off your investments, you may very much want to see your investment income!) The developers said they would be adding the capability to control which accounts are reflected in the card in a future release.

Second, I'm confused about what you think it is doing incorrectly. Capital gains on the sale of a security are income; purchasing a new security is not an expense. If you previously bought a stock for $250 and sold it now for $500, you have a realized gain/capital gain of $250. That's income. If you turn around an invest the $500 in the purchase of another stock, that is an exchange of assets — there is no expense. Quicken should be showing the capital gain on the sale, not the proceeds of the sale, as income — and in my testing, it is. (I recorded a purchase of a security for $1,000 and a subsequent sale of that security for $2,000; the Income & Expense card correctly shows income of $1,000, the gain on my sale, not the $2,000 proceeds of the sale.)

Zoolook

@jacobs Thanks for responding and ngaging, I appreciate it - actually something you said helped me solve the issue. Also I agree with the first part of what you said, and being able to select the accounts (or account types) like you can do on Windows, would be helpful. That feature has been a long time coming and we don't have it yet.

On the second part, this is what helped me solve it. There was no Capital Gains on this sale, it was a redemption of a called bond. I got 6 months interest but then the bond was purchased back at par. However for some reason the purchase last year was recorded in quicken as 210@100 but the sale was recorded as 21@1000 which not lonely looks like a massive capital gain, it left me with a 189 balance that I didn't really have. After correcting this, the graph is as expected. Oddly this error did not happen in QWin but that's for another day.

Case closed.