2023 IRA contribution goes into 2024 tax planner

BK

The 2023 IRA contribution (made in March 2024 but assigned to 2023) shows up in my 2024 Tax planner's Adjustment to income section. I have edited and re-assigned it to TY 2023 multiple times. I have tried it on R52.28 and R55.26 with the same result. Is this the expected behavior and any suggestions how to correct this? (I guess I can overwrite it manually in the Tax Planner.)

Quicken Kristina

Hello @BK,

Thank you for taking the time to visit the Community to report this issue, though we apologize that you are experiencing this.

I was able to replicate what you're seeing and forwarded this issue to the proper channels to be further investigated. In the meantime, please navigate to Help > Report a problem and submit a problem report with log files attached and (if you are willing) a sanitized copy of your data file in order to contribute to the investigation.

While you will not receive a response through this submission, these reports will help our teams in further investigating the issue. The more problem reports we receive, the better.

We apologize for any inconvenience!

Thank you.    

(CTP-9823)

Quicken Kristina

Hello @BK,

Thank you for taking the time to visit the Community to report this issue, though we apologize that you are experiencing this.

I was able to replicate what you're seeing and forwarded this issue to the proper channels to be further investigated. In the meantime, please navigate to Help > Report a problem and submit a problem report with log files attached and (if you are willing) a sanitized copy of your data file in order to contribute to the investigation.

While you will not receive a response through this submission, these reports will help our teams in further investigating the issue. The more problem reports we receive, the better.

We apologize for any inconvenience!

Thank you.    

(CTP-9823)

BK

In the meantime, please navigate to Help > Report a problem and submit a problem report with log files attached

Done. Thank you @Quicken Kristina .

Jim_Harman

I see the same issue: I made an IRA contribution as a transfer from a checking account to a Traditional IRA dated 3/1/24 and when the Which year prompt was displayed, I selected 2023. The Transfers in Tax schedule for the IRA was set to Form 1040:IRA contribution, Self.

This is shown correctly in the Tax Schedule report for 2023, but the Tax Planner with the year set to 2024 incorrectly shows the deduction. In the detail section at the bottom, the contribution is included in the Quicken Data for 2024 Actual YTD even though the transaction is not listed.

I have reported via Help > Report a problem.

Another perhaps related issue occurs when I use the built-in IRA Contribution expense Category to record a contribution early in the year from a checking account. I suppose this is what you would use if you were not tracking the IRA in Quicken. In this case the Which Year dialog is not displayed and Quicken assigns the transaction to the current year, both in the Tax reports and the Tax Planner.

BK

@Jim_Harman

This is shown correctly in the Tax Schedule report for 2023, but the Tax Planner with the year set to 2024 incorrectly shows the deduction.

Here are my testing results for three scenarios:

1- Contributed from Bank Checking Account to IRA, selected 2023 (Category = IRA Account)
See it in Tax planner for 2024 (incorrect)
See it Tax Schedule report for 2023 (correct)
See it in Tax Summary report for 2023 (correct)

2- Contributed from Brokerage Account to IRA, selected 2023 - as "Withdraw" (Category = IRA Account)
See it in Tax planner for 2024 (incorrect)
Do NOT see it in Tax Schedule report for any year
See it in Tax Summary report for 2024 (incorrect)

3- Contributed from Brokerage Account to IRA, selected 2023 - as "Cash Transferred Out of Account" (XOut)
See it in Tax planner for 2024 (incorrect)
Do NOT see it in Tax Schedule report for any year
Do NOT see it in Tax Summary report for any year