Can quicken for Mac designate an IRA account at Vanguard as non-taxable.

jmathews

My Quicken for Mac does not allow me to separate taxable and non-taxable investment income. Instead, both IRA and brokerage accounts show as taxable income. A Quicken advisor told me this distinction in taxable vs non-taxable could be made in Quicken for Windows by specifying the IRA account as non-taxable when it is set up, but that this cannot be done on Quicken for Mac.

Can this be fixed in a future update?

[Edited - Readability]

Quicken Kristina

Hello @jmathews,

Thank you for reaching out! While Quicken for Mac does not allow you to manually set an IRA as taxable or non-taxable, according to our help article on setting up investment accounts, the program assigns the taxable/non-taxable status automatically when the account type is chosen.

If you would like to see the ability to manually select the taxable status added to Quicken for Mac, then I recommend creating an Idea post to request this functionality. Ideas that get enough votes may be implemented in the future! For information about creating an Idea post, please review the discussion linked below:

https://community.quicken.com/discussion/7849425/creating-and-voting-for-ideas-in-the-community

I hope this helps!

jacobs

@jmathews Something doesn't sound right in what you're saying or what you were told. Quicken Mac knows that all retirement accounts generate non-taxable income. You don't do anything to designate an account as non-taxable; Quicken automatically knows the tax treatment of income in IRA, 401-k or other retirement accounts.

Are you using the Tax reports to see your taxable income? If you do a standard transaction report, Quicken doesn't separate taxable and. non-taxable income. But you could easily set up such a report to exclude your retirement accounts. The Tax reports handle this automatically, only reporting on taxable accounts.