Solved - QMac - LT Capital Gains Distributions not showing up in Tax Schedule Report

MrLoverLover

Solved- I think I figured this out myself. Either this is known issue or not a finished feature or maybe even intentional for some reason. It sounds like it’s better to use the individual tax schedule reports instead of the combined “tax schedule” report.
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LT Capital Gains Distributions aren't showing up in the Tax Schedule report on Quicken for Mac. ST should get reported in 1099-DIV Box 1a (and goes to Schedule B). LT should get reported in 1099-DIV Box 2a (and goes to Schedule D) Quicken for Windows reports it in their Tax Schedule report correctly for both ST in Schedule B and LT in Schedule D.

In Quicken for Mac, ST correctly shows up in Schedule B. LT does show up in the Schedule D report. But does not show up in the Tax Schedule Report, in the schedule D section (in fact, there is no Schedule D section at all).

EDIT - I kinda had to rewrite this to correct for where LT/ST Capital Gains Distributions get reported

Ideas?

jacobs

@MrLoverLover The original tax reports in Quicken Mac were built on old technology that dated back to the origin of the rewritten Quicken Mac back around 2010. About 8-9 years ago, the developers built a new reports engine which provided much more user configurability than those old reports. Most of the reports were converted to the new reports engine over time, but there was still the "Tax Schedule" report — the only tax report — which used the old code. now is used in almost all the reports in Quicken Mac. A few years ago, the developers re-wrote most of the tax reporting code to use the modern reports architecture, including a combined, new "Tax Schedule" as well as separate reports by tax schedule.

Except the Schedule D report has not yet been re-written. Unlike all the other tax reporting, which is simply a selected list of transactions — interest paid, retirement income, taxes paid, contributions made, etc. — capital gains reporting requires more than a list of transactions; it must calculate gain/loss for each security sale based on the date(s) of acquisition. So the Schedule D report we have today is actually the old Schedule D report. And because of the change in reports technologies, they weren't able to include the old Schedule D report within the new Tax Schedule report.

So that's a long-winded answer why long-term capital gains don't show up in the Tax Schedule Report; you can only see them in the Schedule D report. I understand why this hasn't been a top priority for the developers, since what we have currently does work — but I do hope at some point they will re-write the Schedule D report using the modern reports infrastructure, at which time they could incorporate it into the combined Tax Schedule report.