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Paycheck and pre-tax deductions

I have an issue related to the one discussed here:

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I have two pre-tax deductions set up, which work fine for getting the money to the proper accounts. The problem is, no matter how I try to set them up, only one shows up as reducing my gross income in my tax planner or tax summary report. Both accounts are set up as pre-tax accounts.

I tried setting up the paycheck as a regular split transaction, but then neither works in the tax planner.

My workaround is to make an adjustment in the tax planner.

Any suggestions?

------------------------------------- Carl Stammerjohn

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Reply to
CarlS
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Make sure the deduction that doesn't appear in the Tax Planner has the correct Tax Line Item assigned (in the Category List).

Reply to
John Pollard

CarlS had written this in response to

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: I tried to do that, but can't figure out what line item to use. The deduction shows up on my W-2, line 12E. It doesn't show up anywhere on my tax return as far as I can tell. It, along with my PERS deduction, just decreases my gross wages.

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Reply to
CarlS

For those of thus that don't know what Box 12E means, it refers to "Elective deferrals under a section 403(b) salary reduction arrangement". As for how to enter this in Quicken I don't know.

-----Original Message----- From: CarlS [mailto:woodworkercs_at_pobox_dot snipped-for-privacy@foo.com] Posted At: Sunday, January 17, 2010 9:25 PM Posted To: alt.comp.software.financial.quicken Conversation: Paycheck and pre-tax deductions Subject: Re: Paycheck and pre-tax deductions

CarlS had written this in response to

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: I tried to do that, but can't figure out what line item to use. The deduction shows up on my W-2, line 12E. It doesn't show up anywhere on my tax return as far as I can tell. It, along with my PERS deduction, just decreases my gross wages.

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Reply to
Oilcan

I think you'd want the deduction to be assigned the same Tax Line Item as the Gross ... to reduce the amount of the Gross.

If one deduction is being treated correctly, but the other not; make the incorrect deduction look like the correct one.

If these deductions are transfers to a tax-deferred account, I think it's likely that the Tax Line Item is assigned to the transfers into the tax-deferred account (which are categories). You can see which transfer categories have Tax Line Items assigned by looking in the Category List - transfer categories are at the end of the list.

To assign a tax line item to a transfer category; see the "Set tax attributes" choice in the "Options" button on the Account Attributes pane on the Overview tab of the tax-deferred account.

Reply to
John Pollard

CarlS had written this in response to

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: Thanks John. Assigning the deduction to W-2:Wages self worked.

I have some other issues now, so I think I'm going to give up on the tax planner. I've had issues with it for years. I even started fresh with a new Quicken file last year to clear up some corrupt entries, and it still has issues.

------------------------------------- John Pollard wrote:

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Reply to
CarlS

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