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How do I Change Earnings from Federal Money Market Fund from Reinvest to Dividend?

TexMike

Vanguard Federal Money Market Fund (VMFXX) is set up in Quicken as a security, not a cash account. Okay with me. Vanguard downloads earnings from VMFXX as a single “ReinvDiv” entry. Vanguard does not download two separate transactions for VMFXX (i.e., “DIV” and then “ReinvDiv”)

I want earnings from VMFXX to be recorded in the investment register first, as a “DIV”, and second, as ReinDiv. Should I change the Vanguard VMFXX download from “ReinvDiv” to “DIV”, Then add a manual VMFXX transaction in the same amount as a “ReinvDiv”?

I want the earnings from VMFXX to show in Tax Planner as a DIV income so I know my estimated income tax position. Currently VMFXX earnings are not recorded at all in the Tax Planner.

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Comments

GeoffG

"I want the earnings from VMFXX to show in Tax Planner as a DIV income so I know my estimated income tax position. Currently VMFXX earnings are not recorded at all in the Tax Planner."

That is not what I'm seeing. Yes the register shows ReinDiv, but when I look at Dividends in the Tax Planner, all VMFXX transactions are shown as _divInc. So Quicken is handling this correctly.

Jim_Harman

Quicken's ReinvDiv transaction is already effectively a combination Div and Bought. The Category for dividend income is _DivInc.

If you were to enter both a Div and a ReinvDiv, the dividend would be recorded twice.

If you are not seeing the dividend income in reports, go to Tools > Security list and make sure the _DivInc Category is not hidden and is included in your report.

VMFXX earnings are included in the Tax Planner for me. If you click on the Dividends line, have you selected Quicken data (from 2024) at the bottom?

The Tax Planner only includes income from taxable accounts and securities. Thus in order to be included in the Tax Planner, the Tax deferred option for the account must be set to No. Also if you go to the Security Detail view for VMFXX and click on Edit details, the Tax free box should not be checked.

Please let us know if one of these settings resolves your issue.

TexMike

Thanks for your help. I had the Security Details for VMFXX marked as tax fee. When I unticked the tax fee box the dividends showed up in m tax planner.