Same Security Dividends Taxable or Taxc-Exempt cannot be selectable.

PrettyQuickSmitty
PrettyQuickSmitty Quicken Mac Subscription Member ✭✭
in Investing (Mac)

I have the same security within a qualified retirement account (IRA) AND a separate brokerage account. Changing the security to tax-exempt causes all dividends, regardless of account, to be tax-exempt in Tax Reports…

Preferably, if an account's type is IRA (traditional, Roth, 401k, etc.) than all dividends within should be tax-exempt. and … if the same security is in a Brokerage account then all dividends should be considered taxable (or at least the choice should be available)… The choice should be based upon the account type, not the specific security or ticker symbol.

Since the transactions are downloaded from brokerage accounts online, the ability to choose Ticker Symbols isn't assignable or re-assignable.

TIA

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Answers

  • Jim_Harman
    Jim_Harman Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited January 31

    [This applies to QWin. Presumably the Mac version is the same or similar]

    It is the Tax Exempt setting for the IRA account that excludes it and thus its dividends, capital gains, etc. from the Tax reports.

    The Tax Free setting for securities is for securities like muni bond funds and individual bonds whose dividends and interest are always tax exempt.

    QWin Premier subscription
  • PrettyQuickSmitty
    PrettyQuickSmitty Quicken Mac Subscription Member ✭✭

    Thanks…. but,

    https://community.quicken.com/discussion/comment/20414667#Comment_20414667

    Unfortunately, this does not seem to be completely the case in my Quicken_Mac.

    After some noodling; I think I've isolated the error to the Tax Report, not the retirement account setting:

    If I select "All accounts (except Separate and retirement accounts)" none of the dividends, capital gains, etc are tabulated. REPORT WORKS CORRECTLY and AS EXPECTED.

    or if I included the retirement account, all the dividends, capital gains, etc are reported as Taxable regardless of being contained within a retirement account INCORRECT (my opinion).

    Thanks Again… I can deal with this with a little diligence.

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