I have Quicken 2006 Deluxe and TurboTax. I just had TurboTax automatically import my expenses from Quicken. I found the amounts TT imported were hugely inflated from the amounts shown on the tax reports in Quicken.
Researching the problem, I discovered that many of my expenses are entered in Quicken into accounts that are in foreign currencies. Quicken properly converts all these amounts on its reports into US dollars.
TurboTax imports these amounts in foreign currencies as is they were dollars and does not apply the necessary conversions. It then combines them with other amounts from other accounts that are in dollars and gets completely wrong totals that it applies to the various lines on the tax forms.
Quicken says it is a TurboTax problem. TurboTax says it is a Quicken problem or a setup problem.
In the meantime, TurboTax produces a very erroneous tax return when it encounters items in currencies other than US dollars.
Anyone know how to reach someone at TurboTax who would care about this situation?