Dividend Category by Account Type - All Dividends Currently Just "_Div"

ManOfSteel58
ManOfSteel58 Quicken Windows Subscription Member
edited April 1 in Investing (Windows)

It would be a nice feature if you could assign dividend type (taxable, tax exempt, and tax deferred) by account type. That way all dividends earned by my Roth accounts would be exempt, my IRA/401k/457b accounts would be deferred, and my regular brokerage accounts would be taxable. Now every time I download dividend reinvestments I need to 1) change from "ReinvDiv" to "Bought", add a Dividend transaction for the amount, then edit the dividend transaction to be a miscellaneous expense and select the correct category. This is a GIANT PAIN and it seems like it would be easy to fix. Am I missing something??

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  • Quicken Laura
    Quicken Laura Quicken Windows Subscription Moderator mod
    edited April 1

    Hi @ManOfSteel58,

    I’m sorry to hear that you have to go through this process each time to record your dividend reinvestments.

    At this time, Quicken automatically assigns all dividend transactions to a built-in category and does not support using different categories based on account type. As a workaround, you can customize your reports to display this information separately by account.

    To customize your reports:

    • Open the desired report (e.g., Investment Income)
    • Click Customize in the upper-right corner report> customize.png
    • Select the Accounts tab
    • Choose the accounts you’d like to include (for example, taxable or retirement accounts)
    report> selected accounts.png

    If you’d like to request this as a new feature, you can create an Idea post in the Community. This allows other users with similar needs to vote on your suggestion, and our Development and Product teams regularly review these posts as they consider improvements to Quicken.

    I hope this helps! Please let me know if you have any questions.

    Quicken Laura

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  • Jim_Harman
    Jim_Harman Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited April 1

    @ManOfSteel58 Actually you do not have to go to all the trouble you describe.

    If a security is marked "Tax free" in the Security Details, Quicken automatically converts the dividends to _DivIncTaxFree. This is for securities like muni bonds and tax exempt bond funds/ETFs.

    Also if an account is marked "Tax Deferred" it is excluded by default from the Tax reports and Tax Planner. That is for IRAs, 401(k)s, and other retirement accounts, and means that dividends, capital gains, and other distributions from the securities in the account are not included in Quicken's tax reporting.

    You are still on your own dealing with Qualified dividends in taxable accounts, as discussed here

    https://community.quicken.com/discussion/7859839/add-qualified-dividend-as-option-for-income-div-int-etc-and-income-reinvested-transactions

    If you would like to see that enhancement, please review, comment, and vote on that Idea.

    QWin Premier subscription

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