QW 2018 R 7.5 Tax Planner Resolves All Reported Errors?
markus1957
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!
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!
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Quicken Kathryn
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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...
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.