Tax Planner over-reporting Interest Income

niven
niven Member ✭✭✭
edited September 14 in Reports (Windows)

I'm hoping someone can help me with this issue:

Tax Planner is way over-reporting my interest income. I can see that it's including all income transferred from another account. I'm sure I have a box checked wrongly somewhere :( but I can't find it. Does anyone know how I can make my account not identify transferred money as taxable income. Many thanks

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  • niven
    niven Member ✭✭✭

    apologies everyone, I fixed it. I'll leave this up in case it helps anyone else.

    I was trying to edit in the category lists under Transfers. I switched to the account Lists. Went into account details/Display Options and there's a button "Tax Schedule" where I saw that all my savings accounts were treating transfer in income as taxable. Thanks

  • Jim_Harman
    Jim_Harman Quicken Windows Subscription SuperUser ✭✭✭✭✭

    Go to both the source and destination accounts, click on the gear at the top right, and select Edit account details. Click on Tax Schedule at the bottom and make sure the selections are correct. Except in very unusual circumstances, none of the Schedule B items should be selected.

    For taxable accounts, both selections would normally be blank. For traditional IRA and 401(k) accounts, Transfers out should be set to 1099-R: Total IRA taxable distrib. For Roth accounts, the setting should be 1099-R:Total IRA gross distrib.

    QWin Premier subscription
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