What tax category should the COVID-19 Stimulus Check go under?

TXShooter Member ✭✭✭

April 2020 edited April 2020 in Budgeting and Planning Tools (Windows)

I know it's not taxable, but still, what tax category should the $1200 (single) $2400 (married) stimulus checks be categorized as so it doesn't much up the works when exporting to TurboTax?

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Best Answer

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  Sherlock Quicken Windows Subscription Member ✭✭✭✭

  April 2020 Answer ✓

  TXShooter said:

  @Sherlock,

  So you don't assign it a Tax-Related Category?
  

  Correct.  I just use a simple income category to track income that is tax free - no tax line item required.

  5

Answers

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  Sherlock Quicken Windows Subscription Member ✭✭✭✭

  April 2020

  I would use the Tax Free Income income category I created years ago for other tax free income we've recieved over the years.  If you haven't created a category before, you may want to review: https://www.quicken.com/support/how-do-i-create-new-category-or-subcategory

  
  

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  Unknown

  April 2020

  This content has been removed.
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  Sherlock Quicken Windows Subscription Member ✭✭✭✭

  April 2020 Answer ✓

  TXShooter said:

  @Sherlock,

  So you don't assign it a Tax-Related Category?
  

  Correct.  I just use a simple income category to track income that is tax free - no tax line item required.

  5

This discussion has been closed.