"Uncategorized" income & expenses in reports?

Jan 24, 2011 4 Replies

When I run income and/or expense reports from Quicken 2011, I see "Return of Capital" showing up under "Uncategorized Income."



On the other hand, I see purchases of securities in our 401K plans and in our regular trading account showing up as "Uncategorized Expenses."



Even stranger, the "Return of Capital" entries have a dollar amount, while all of the "Uncategorized Expenses" show up as zero in the reports.



I can get rid of these entries by simply un-checking the "Uncategorized" entry in the Categories list for the report customization, but I'd like to know why these particular entries show up in that category in the first place. There's no provision for adding a category for these transactions in the register.



[This isn't new for Q2011; it's just what I'm running now]
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I have a couple of securities that I get uncategorized expenses. I've been wondering about these transactions too. I finally went to my Scwab account and looked up the transactions. The "withdrawals" were for "Foreign tax paid". Schwab must be passing a blank reason or one that Quicken does not recognize so they end up with no category.

I can edit the transaction but I am not sure what Investment related category those withdrawals belong to. Any ideas?

If these withdrawals are in after-tax accounts I'd probably put them in my Tax:Foreign category because there's a chance I could claim a deduction or credit on my tax return. If the withdrawals occurred in an IRA or other qualified retirement plan account I'd probably just stick them in "Miscellaneous" expense or something similar.

Tom Young

Thanks Tom. I'll create that category now that I know what those withdrawals are for. I don't use the Q file for taxes--I get that info off of 1099 reports from Schwab. The accounts impacted are Non IRA accounts so I'll look for the Foreign tax line on the 1099.

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