Capital Gains report not including reinvestments
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Lee Cannon
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When I do a Tax: Capital Gains report it does not include reinvestments (reinvLg or reinvSh) as entered from mutual fund transactions. The accounts are not flagged Deferred Tax and it is true whether or not it is Single Mutual Fund Account. The mutual fund securities are not flagged as Tax Free. The accounts and securities are include in the report configuation.
I ran a Capital Gains report that covered a time frame that includes when mutual funds that were sold. This report included reinvestments including those that were issued and reinvested prior to the report time window. This would be proper if the account was set as Tax Deferred, but its not.
It seems like Quicken is assuming that all mutual fund securities are tax deferred.
Other than on IRAs etc, Capital Gains are taxable in the year they are issued, even if they are reinvested.
I ran a Capital Gains report that covered a time frame that includes when mutual funds that were sold. This report included reinvestments including those that were issued and reinvested prior to the report time window. This would be proper if the account was set as Tax Deferred, but its not.
It seems like Quicken is assuming that all mutual fund securities are tax deferred.
Other than on IRAs etc, Capital Gains are taxable in the year they are issued, even if they are reinvested.
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Answers
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Our posts crossed each other.
I suggest this post (among others) raises your same question:
https://community.quicken.com/discussion/7867512/what-report-shows-transactions-with-a-type-of-cglongx
The gist is, Capital Gains Report is for sale of securities, not for distributions.
Tax Summary Report, Tax Schedule report, and (for Quicken Premier level and above) the Schedule D Report will include the cap gain distributions (LT and ST)1 -
No, as discussed here
https://community.quicken.com/discussion/7867512/what-report-shows-transactions-with-a-type-of-cglongx
the Investing > Capital Gains report only shows gains and losses from the sale of securities.
The Tax Summary and Tax Schedule reports or the Schedule D report (Premier and H&B only) include capital gains distributions.QWin Premier subscription0
This discussion has been closed.