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How does Quicken know to categorize some interest income as non-taxable

Jack Scripps

Other interest income is classified as taxable. How does Quicken know? I have checked and two bonds should both be shown as non-taxable, but one is reported as taxable and the other is not.

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Accepted answers

Boatnmaniac

Go to Tools > Security List > click on the bond in question > Edit Details. Is the box for Tax free checked? If not, check it.

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Boatnmaniac

Go to Tools > Security List > click on the bond in question > Edit Details. Is the box for Tax free checked? If not, check it.

Jack Scripps

Yikes, is my face red?! I must have overlooked that box a dozen times as I checked to see the settings of each of the securities in question. I feel like a dummy! Thanks.

Boatnmaniac

No problem. We all have our "duh!" moments!

Normally, when a security is downloaded from the brokerage or when Asset Classes are downloaded the tax status is automatically entered. But sometimes it just needs to be manually updated to reflect that.