2024 Tax Planner using 2023 Interest data

leishirsute

Is this only happening to me?

The Interest in the 2024 Tax Planner is incorrectly using 2023 data.

The Dividends is correctly using the 2024 data.

markus1957

The Tax Planner is designed to use the previous year's data plus an inflation factor as the projected amount until such time as there are actual transactions or scheduled reminders for the current year. Once current year data is entered in either of those forms, the current year data will be used.

leishirsute

Please note in the images. It is not using Quicken Data (from 2024) for interest, it is using 2023 YTD data and stating that it is for 2024 YTD, even when No Projected Amount is selected. In contrast, Dividend data shows that it is using data and projecting for 2024. I want actual YTD 2024 data to be shown. How do I specify that? I used to select No Projected Amount, but that is not working with Interest planning. I guess I have to override the incorrect behavior with an User Entered amount.

Looks like a bug to me.

Interest planning looks incorrect:

Dividend planning looks correct:

Jim_Harman

Do you have Reminders set for the 2024 interest income, or have you recorded any interest income for 2024 yet? If not, Quicken has no 2024 data to work with and thus it will continue to use the 2023 data.

If you enter a manual IntInc transaction for 2024 as a test, the Tax Planner should switch to using 2024 data.

leishirsute

I entered a test interest income transaction and that worked.

How do I set the planner so it doesn't use any 2023 data for interest income?

Currently, I'm using a dummy transaction for interest income for $0.00 dated 1/1/2024 which changes the Planner to use 2024 data.

Thank you for clarifying.

Jim_Harman

Please explain. I tried entering interest for this year and that switched it to using 2024. Isn't that what you saw too?

For me, it took $1.00 entered on 1/15/24 and it projected an additional $18.00 based on the YTD daily average, for a total of $19.00. It is not using any 2013 data.

leishirsute

@Jim_Harman Yes. I made a dummy transaction for $0.00 dated 1/1/2024 and it changed the Tax Planner to use interest data from 2024 instead of 2023. Thanks for explaining.

It seems to me that if No Projected Amount is selected for Interest, 2023 Actual Data should not be used to project 2024 Interest either.

UPDATE: I deleted the dummy transaction and created an annual scheduled dummy transaction for $0.00 dated 1/1/2024 which I will skip once actual interest posts. This causes the Tax Planner to use 2024 data.

Jim_Harman

It may not be intuitive, but it is very flexible IMO.

— If there are no reminders or transactions for either year, the whole Quicken data section is grayed out. You can still choose a fixed amount or the imported TurboTax data.

— If there are transactions for last year but no transactions or reminders for this year, it uses last year's data and you can either add an inflation increase or a specified increase.

— If there are transactions or reminders for this year, it uses this year's transactions plus the Reminders

leishirsute

@Jim_Harman Not intuitive is an understatement. It is still buggy. If there is only a reminder, it states it is using data (from 2024) but still shows the 2023 amount in the Taxable Interest Income.

It seems to totally ignore the request for No Projected Amount, which is what I need for estimated taxes planning.

Andrew02467

I have interest for 2024 already but I can't choose 2024 from the tax planner! It shows up (2023, 2024) but when I choose/highlight 2024, it doesn't stick and 2023 stays there no matter what I do. Wage info and deductions show and forecast for 2024 using 2024 entries, but would think from 2024 not showing that 2024 tax tables aren't being used.

I am on 52.33 at this point, having seen too many errors with later versions. Any ideas?