I would like you to add a COLUMN category for “SALES TAX”, and include report options

neener
neener Quicken Mac Subscription Member
edited November 13 in Reports

As an individual, and not a business, we have the opportunity to enter what we actually spent on sales tax in our annual IRS filing. If one exceeds the sales tax standard for a particular state or the feds sales tax is a deductible item. If one is purchasing a big ticket item during that particular year. Sales tax on a car, large home repair and renovation, purchases and contracts as well as regular daily expenses have sales tax out and it's very hard to keep track of. Keeping a separate spreadsheet and scanning receipts is a pain. How much easier would be to scan a receipt and attach it to the charge in Quicken in the category of sales tax? Then a report could be created on sales tax at the end of the year.

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  • UKR
    UKR Quicken Windows Subscription SuperUser ✭✭✭✭✭

    Until the time your Idea gets implemented, you can always create a Split Transaction.
    One Split line contains the net purchase amount, the other contains the Sales Tax you paid.
    For example, here's how that would look in Q for Windows. It looks similar in Q for Mac

    image.png

    All you need is an Expense Category, "Sales Tax paid" or similar name, marked as taxable category and associated with tax line item Schedule A: Sales Tax paid

  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭

    I'm in the same situation re: Sales Tax … but why is a new column needed?

    I simply record my purchases as Split transactions and show the Sales tax, with it's associated category, as a separate line

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

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