When Will Quicken Update The New 2025 Standard Deduction and Tax Changes?

Rick8
Rick8 Member ✭✭✭✭
edited August 30 in Budgeting and Planning Tools (Windows)

When Will Quicken Update The New 2025 Standard Deduction and Tax Changes from the One Big Beautiful Bill?

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  • Jim_Harman
    Jim_Harman Quicken Windows Subscription SuperUser ✭✭✭✭✭

    Based on experience from prior years, any updates to the Tax Planner will not be available until near the end of the year, when the changes have been finalized. In the meantime, we can make manual entries to reflect the anticipated changes.

    For example, if your income is such that you will qualify for some or all of the additional $6,000 Senior deduction (12,000 for MFJ), you can enter the amount on the Other Adjustments line in the Adjustments to Income section.

    If you would like to see the changes sooner, you should create an Idea post requesting that.

    QWin Premier subscription
  • UKR
    UKR Quicken Windows Subscription SuperUser ✭✭✭✭✭

    For example, if your income is such that you will qualify for some or all of the additional $6,000 Senior deduction (12,000 for MFJ), you can enter the amount on the Other Adjustments line in the Adjustments to Income section.

    Good suggestion, @Jim_Harman
    Let's wait until the end of the year, to get the final version of the numbers. By that time, the wind coming out of D.C. may have changed direction again.

    Everything else with respect to planning for the future these days is like looking into a crystal ball.

    broken-crystal-ball.gif

    😁

  • Rick8
    Rick8 Member ✭✭✭✭

    No way to change the standard deduction.

  • Chris_QPW
    Chris_QPW Quicken Windows Subscription Member ✭✭✭✭
    https://community.quicken.com/discussion/comment/20498987#Comment_20498987

    If you change from the Projected Scenario to one of the numbered ones, you can change the rates to your hearts content by selecting the Rates menu item.

    Signature:
    This is my website (ImportQIF is free to use):

    http://www.quicknperlwiz.com/

  • Andrew Prouty
    Andrew Prouty Member ✭✭

    +1

    I would like for the "Estimated Taxes and Form W-4 Worksheet" to take into consideration the new SALT deduction, since I am in California.

    -Andy

  • Rick8
    Rick8 Member ✭✭✭✭

    Sorrry Chris,

    Cannot change the Std. Deduction with any Scenarios. Thanks for trying!

  • Rick8
    Rick8 Member ✭✭✭✭

    Thanks Chris,

    Missed that step. By the way, love your website. Been using it for about 4 years to get updates!!

  • Seth
    Seth Member ✭✭✭

    Need the change in SALT reflected.

This discussion has been closed.

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