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QW 2018 R 7.5 Tax Planner Resolves All Reported Errors?

markus1957markus1957 SuperUser ✭✭✭✭✭
Annually, for several years I have posted a sometimes lengthy list of errors persisting in the Quicken Windows Tax Planner module. For the first time, as of QW2018 R7.5, I have no outstanding errors to report. Quicken has done a remarkable job constructing an accurate tax projection tool for 2018.

In the interest of perfecting the planner, if any users have identified an error in R7.5 or later version, please provide a detailed reply with the steps required to reproduce the error.

Nice job Quicken!

Comments

  • NotACPANotACPA SuperUser ✭✭✭✭✭
    edited October 2018
    It would appear that you (and a few others posting here) have one of the "early release" copies.  I'm still on R 6.12 ... which reports that it's the latest version.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • Quicken KathrynQuicken Kathryn Administrator admin
    edited March 2018

    It would appear that you (and a few others posting here) have one of the "early release" copies.  I'm still on R 6.12 ... which reports that it's the latest version.

    The 7.5 release is currently staged, but you can download it from here: https://www.quicken.com/support/update-and-mondo-patch-2018-release-quicken-windows
    Quicken Kathryn
    Community Administrator
  • Quicken KathrynQuicken Kathryn Administrator admin
    edited March 2018
    Great to hear--thanks, markus1957!

    Quicken Kathryn
    Quicken Kathryn
    Community Administrator
  • markus1957markus1957 SuperUser ✭✭✭✭✭
    edited January 2019
    A Tax Planner calculation error has been verified in the post below. When the Net Taxable Capital Gain is a negative value, any value entered in the recently added Qualified Dividend Income (QDI) input box is ignored and the entire amount shown in the Dividend Income box is treated as regular income in the tax calculation. The QDI value needs to first be deducted from the regular Dividend and the favorable LTCG/QDI tax rate applied to the QDI.  

    The QDI is properly deducted from regular Dividends and the tax owed is calculated correctly when the Net Taxable Capital Gain is >= zero.  I suspect this is an oversight within an IF/Then type equation where the coder forgot to include the recently added QDI variable into the section of the equation that handles the special condition when the net capital gain is a negative number and a maximum of $3,000 dollars can be used to offset regular income.

    https://getsatisfaction.com/quickencommunity/topics/2018-capital-loss-calculation-in-error-jmacaoc0y...
  • markus1957markus1957 SuperUser ✭✭✭✭✭
    edited January 2019
    Adding- it is not as simple as I described. After further testing, the calculation error is not simply that QDI is being ignored. It's more complicated and would require the equation in the code to be revealed. So far, what can be said is that the error only manifests when Net Taxable Capital Gains are negative and a QDI value other than zero is input.
  • markus1957markus1957 SuperUser ✭✭✭✭✭
    edited January 2019
    As it stands, the error was NOT corrected in R9.30. The error only manifests when Net Taxable Capital Gains are negative and a QDI value other than zero is input.

    Steps to reproduce:
    1. Enter the following values into a blank Tax Planner (34K wages, 5K Div, 5K QDI, -5K LTCG).
    2. Correct tax is $700 (5K QDI should be taxed at 0% rate) but planner shows $1,200.
    3. Vary the LTCG input value from 5K, 0, -1K, -2K, -3K, -5K.
    4. Note tax is calculated correctly for LTCG 5K and 0, but incorrectly for negative values. If no QDI is input, Tax is correctly calculated for all LTCG variations in #3.
    5. Also note that tax for -3K and -5K LTCG should not change but that it does. The -3K limit should make the result the same; All other displayed values in the planner stay the same as they should but the tax owed changes.







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