how do i report social security income in Quicken Home and Business

Quicken Windows Subscription Member
in Budgeting and Planning Tools (Windows)
i receive social security pay for myself (over 65) and my disabled son. How do I report this income? I see no income category and it is taxed differently than ordinary income. I also want to include a line item for this in my budget.
Same question for pension money I am receiving. How and where do I categorize that income?

Best Answer

  • Quicken Windows Subscription SuperUser ✭✭✭✭✭
    Answer ✓
    This question is really more about Tax Line Items than categories or scheduling transactions.
    Quicken does not provide built-in categories for Social Security income; you must create your own, which is easy enough, and you must manually connect those categories to the proper Tax Line Items.
    The problem, at least in Quicken Premier which I use, is that there are only 2 Tax Line Items for SS income, for "self" and "spouse". There is no TLI for "child", so Quicken cannot properly track the tax consequences of a disabled child's SS income. This is illustrated below. So you're on your own for that.
    If you scroll way down in the TLI list, you'll come to Form 1099-R reporting for pensions.

    Quicken user since version 2 for DOS, as of 2025 using QWin Premier (US) on Win10 Pro & Win11 Pro on 2 PCs.

Answers

  • Quicken Windows Subscription Member ✭✭✭✭
    edited May 2021
    If you haven't already, you may want to review: FAQ: How to record Social Security Income & Customize Day of Month for Schedule

    Note: You may create your own category for the income and associate an appropriate tax line item to the category: press Ctrl + Shift + C
  • Quicken Windows Subscription SuperUser ✭✭✭✭✭
    Answer ✓
    This question is really more about Tax Line Items than categories or scheduling transactions.
    Quicken does not provide built-in categories for Social Security income; you must create your own, which is easy enough, and you must manually connect those categories to the proper Tax Line Items.
    The problem, at least in Quicken Premier which I use, is that there are only 2 Tax Line Items for SS income, for "self" and "spouse". There is no TLI for "child", so Quicken cannot properly track the tax consequences of a disabled child's SS income. This is illustrated below. So you're on your own for that.
    If you scroll way down in the TLI list, you'll come to Form 1099-R reporting for pensions.

    Quicken user since version 2 for DOS, as of 2025 using QWin Premier (US) on Win10 Pro & Win11 Pro on 2 PCs.

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