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Tax Schedule (for export to Turbo Tax) missing home mortgage interest

fab5friend

Using version R59.10 build 27.1.59.10 The report Tax Schedule (for export to Turbo Tax) is a standard report I've used for years. I run the report and copy it into Excel for use in estimating my taxes. Something has happened between early January 2024, when I last ran it for 2023 taxes, and now. My mortgage interest is no longer showing up on the report where it has been for many years. The category is Home:Morgage:Interest . I did verify in the report customization that "select all" was chosen on the Accounts, Categories, Payees, and Tags tabs. What is going on? Last I heard mortgage interest is still deductible. Why was this report changed?

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Rocket J Squirrel

The tax reports run off Tax Line Items, not Categories. Make sure you have the correct TLI associated with the mortgage category.

Jim_Harman

Go to Tools > Category list and find the Home:Mortgage:Interest Category, or whatever Category you have been using to record the interest portion of your payments. It should have a Tax line item of Schedule A:Home mortgage interest (1098), or Schedule A:Home mortgage int. (no 1098) if you did not receive a Form 1098 for your mortgage.

If not, right-click on the Category, select Edit, and on the Tax Reporting tab, select the appropriate line item.

With the correct Tax Line Item, the transactions should appear in the Tax Schedule Report.

fab5friend

Checked the Tools / Category List and yes it does show "Schedule A:Home mortgage interest (1098) like it should. I don't think I've ever seen that screen before and know I haven't changed anything there. Any other ideas?

fab5friend

I have run the individual standard reports Schedule A and Schedule B and everything reconciles to the Tax Schedule report except for the mortgage interest. In other words, the mortgage interest does show on the Schedule A report but is missing from the Tax Schedule report.

NotACPA

https://community.quicken.com/discussion/comment/20458728#Comment_20458728

I can confirm this. I'm seeing the same thing in R59.18.

@fab5friend Have you contacted Q Support, via the link at the top of this page, to report this bug?

Also, which Release of Q are you running? Do HELP, About Quicken for this info.

Jim_Harman

That's a mystery.

One possibility is that this a bug in the new report customization interface, which has been known to include incorrect Categories in reports.

Try going to Edit > Preferences > Early access and un-checking the Customize reports box if it is checked, then restart Quicken and check that the Home:Mortgage:Interest Category is included in the Tax Schedule report.

It works OK for me with the old interface, but when I check the Categories that are included in the Tax Schedule report, it looks like this, with two Interest subcategories.

Please let us know if that was checked and if so, if un-checking it fixes the problem.

This issue appears to have something to do with user created subcategories. Do you remember if you created the Interest subcategory under Mortgage, or was it created automatically when you set up the mortgage? I see this same issue in the new report category selection when I have created other subcategories.

fab5friend

https://community.quicken.com/discussion/comment/20458757#Comment_20458757

Thanks for the confirmation. Using version R59.10 build 27.1.59.10. I saw I had an update this morning to go to 59.18 but I like to wait on new releases. Been burned before. Have not contacted support yet.

fab5friend

https://community.quicken.com/discussion/comment/20458768#Comment_20458768

The report early access was NOT checked. (Don't want to be Quicken's beta tester!)

It's been about 5 years since I set up the mortgage in Q and not remember doing anything special or different. And this report worked just fine for last 10+ years I've used it, always showing the mortgage interest. I definitely have not done anything different this year regarding anything tax related. Also, the Schedule A report and the Tax Summary report both show the mortgage interest. It's only the Tax Schedule report that is not showing it.

NotACPA

@Jim_Harman "Early Access" is not turned on in my account. My "Mortgage Interest" category and each of it's sub-cats are checked for inclusion in the report.

Under my Mortgage Interest category are 6 sub-cats for various loans I've had over the years.

mshiggins

Perhaps this recent issue is the culprit:

https://community.quicken.com/discussion/7956253/tax-schedule-report-omits-any-split-transaction-if-first-split-line-has-no-tax-line-item-assigned

Jim_Harman

You win the prize, @mshiggins !

The interest was shown properly in my test transaction, but that did not have a split.

If I make it a split transaction with a principal payment on the first line, the interest disappears from the report.

If I reverse the split lines so the interest is on the top line, it is included in the report.

fab5friend

https://community.quicken.com/discussion/comment/20458790#Comment_20458790

This is exactly the problem. I created a dummy split entry that put the mortgage interest first instead of second and the report did pick it up. Thank you for finding this. I went through the last year or so of report issues seeing if there was a similar issue and must have missed this one. I see now that this other issue wasn't in the Reports section, it was in the Errors and Troubleshooting section. So I assume this issue has been submitted to Quicken support? Or do I need to do something? (And this why I am not in a hurry to install quicken updates because they break things that aren't broken.)

Jim_Harman

I don't see any indication that Quicken has responded to this issue.

Forum Moderators sometimes review issues discussed here and refer them to Development, but if you want Quicken to work on a problem, I recommend you contact Support via phone. Be sure the support agent understands the problem and gives you a ticket number for future reference.

You should also use the Help > Report a Problem menu in Quicken to submit the issue online. In your submission, be as clear and thorough as possible. Reference the ticket number and provide a link to this discussion. Provide step by step instructions to reproduce the problem. You will not get a response to an electronic submission, but they say they review and prioritize the submissions.

Since I have replicated this issue, I will also file a report; the more reports they receive the better.

fab5friend

Thanks for everyone's help. Glad to know it wasn't user error! I called it in and submitted it via help/report a problem.

NotACPA

I'd forgotten about that bug. I'm going in to edit my loan payments to bypass the issue … not awaiting Q's fix.

NotACPA

Took a pause after changing the January 2024 payment to conform. What, if anything, does that change do to the Loan Wizard's calculations?

Anyone know?

Tom Young

Don't payments always have to follow this ordering?:

NotACPA

https://community.quicken.com/discussion/comment/20458819#Comment_20458819

That's kinda the reason for my query preceding your post.

SO, if the principal has to be first, but the Interest won't show in the Tax Schedule unless it's first … I guess I'll have to wait until it's fixed.

And, the 3rd line no longer needs to be add'l prin. That hasn't been required for some time. My 3rd & 4th lines of the split are both xfers to my escrow account, with different tags (Insurance vs. RE tax)

mshiggins

If I recall correctly, the only taboo line you don’t want to move was line 3 for additional principal.

NotACPA

https://community.quicken.com/discussion/comment/20458848#Comment_20458848

My line 3 is a transfer to my escrow account. That "line 3 must be principal" hasn't been true for years.

Tom Young

I criticized Quicken when they came up with this ordering scheme way back some time (2013?) and I'll criticize them again if that ordering scheme has changed. It makes absolutely no sense that the line items are somehow independent of the Category or Transfer they call out, and if Quicken is going to make their program dependent on some (invisible) "line order" then that should be spelled out very clearly right on the Split Transaction screen.

Quicken Anja

Hello All,

We will be forwarding this issue to the proper channels to have this further investigated. However, we request that you please navigate to Help > Report a problem within your Quicken program and submit a problem report with log files and screenshots attached in order to contribute to the investigation. It would also aid the investigation to include a sanitized file when submitting the problem report. A sanitized file is a data file that removes personally identifiable information so you can comfortably share this file with the Quicken team.

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 in the meantime! Thank you.

Quicken Anja

Hello again,

Our teams have identified the root cause of this issue and are working on creating a fix as quickly as possible, though we do not have an ETA available at this time.

Thank you!

Boatnmaniac

An Alert has now been posted regarding this issue: Known Issue: Transactions missing from the Tax Schedule Report in Quicken for Windows.

Quicken Anja

Hello All,

This is now considered a known issue that has been escalated internally, though we do not have an ETA on resolution at this time. While the investigation remains ongoing, please refer to this Community Alert for any and all available updates.

Thank you!

Jim_Harman

This issue has been resolved in QWin R59.35.

Thanks, Quicken!