Qualified Dividends versus plain Dividends

Speaking from WIN version.

I created a new category for qualified dividends and assigned tax line item 'Schedule B: Qualified dividend' - this is available in the tax line assignment list. The dividends must be entered in the register as a miscellaneous income item to permit assigning this custom category.

I also created a new category for ordinary dividens with tax line assignment 'Schedule B: Dividend income' - could have used existing dividend income category but new category includes discriptor 'Ordinary' for ease in interpreting.

QW's Tax Schedule Report subtotals these separately for ease in entering in tax prep software.

I doubt that this info will import directly into the tax software - but haven't tried it for other reasons.

JM:

Thank you for the workaround. Dioesn't it seem strange that Intuit would ignore this rather basic part of the tax code? I think your suggestion will work in the Mac version also.

Again that you!

I too wish QW was more versatile on tax issues. I have expnded a lot of effort on work-arounds for the various types of investment income - other than the standard interest and dividends.

An alternate work-around for the Ordinary/Qualified dividend issue goes as follows; assign classes, Qualified or Ordinary, to the '_DivInc' category. You have to enter the dividend as a 'Misc Inc' transaction in order to access the category field. Then assign 'Copy No.s' to each class. QW will then subtotal the two classes separately in the Tax Schedule Report.

Have got to wonder if some concepts, like 'Qualified Dividends', might be caught up in the on-going debate over making the 'tax cuts' permanent. Must be quite a challenge for a software co. to keep up with something as volatile as tax codes.

It would really be nice if Quicken allowed you map a category into a "tax line item" in each of the IRS forms and in the Turbotax worksheets. It would be even better if it allowed you to map to a line item that might not have even existed when the Quicken version was released.

When was the Qualified Dividend tax break finalized? It might have been after Q2004 was finished in mid 2003.

Mike

Amen!! Have you looked at the three files, TAX.PRI, TAX,SCD, & TAX.THP, in the QW program directory? Looks like you could create new tax line items with some editing here. Am going to sit down and experiment with it one of these days. Highly unlikely it would interface with tax software, but could at least generate a QW Tax Schedule Report that summarized data in a format for ready entry in the tax forms.

Have had some success in other areas - e.g., have four accounts that pay interest and each gets a separate 1099-INT report at Y-E. QW does not differentiate between payees in the Tax Sched Rpt. I use classes, with Copy No's, for each account and the result is that each payee is subtotaled separately in the Tax Schedule Report. This helps.

On the other hand, struggled thru a K-1 for a limited partnership last year. Don't see any way that QW could handle that one - it's tough enough in TTax!!

Think you are right - find first references to it in late 2003.

No, but I had looked into Turbotax a bit. It has tax.scd and tax.thp files that must be involved in reading the import.

Maybe you can enter data in Turbotax worksheets by playing with these files.

Mike

Mike Blake-Knox wrote in news: snipped-for-privacy@intrex.net:

I believe you are right that those files are required for importing into turbotax. In the past I have edited them, but not recently. I would be surprised if import worked correctly if they are edited.

scott s. .

That's my concern too -- Especially as Quicken seems to be pretty sensitive to changes in its environment.

Mike

Mike:

That may be true. However it seems the 2006 version still doesn't include Qualified Divedends.