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using Q2006 reports to balance capital gains

I want to verify my impression that it is not sufficient to look at only the Capital Gains report to determine the total to match in trying to balance gains and losses on Schedule D. As I see it, it only shows actual sales, but does not include capital gain distributions.

I ran a customized investment transaction report, selecting categories for long & short term distributions and realized gains from securities. This figures match up significantly better with the Capital gains Estimator and the Tax Planner (for all its worts).

As a side question,why does the above report print a section of Expenses, under which it lists various sales and even some of the capital gains under an "uncategorized" category. The action colum is quite clear on what types of transactions they are and the specific transactions are definitely not uncategorized.

Reply to
jo
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You're correct: the Capital Gains report only shows capital gains.

Capital gains distributions are not the same as capital gains. Capital gains occur when you sell assets you own. Capital gains distributions occur when your mutual fund sells assets they own ... and pass the gains along to you.

You can get long term capital gains distributions from a mutual fund you first bought yesterday; you can get short term capital gains distributions from a mutual fund you only purchased once, ten years ago.

If you have the Premier version of Quicken, you can get your capital gains distributions "summarized" in the "Schedule D-Capital Gains" report.

I don't have Q2006 installed, so perhaps I am missing something; but I don't see anything like what you describe. Can you provide some more detail on what report, and how you have it customized?

Reply to
John Pollard

That should have read:

I don't have Q2006 installed, so perhaps I am missing something; but I don't see anything like what you describe, when I look in Q2007.

Reply to
John Pollard

I believe you can attach to the posts you make here. If that's not possible, my email address is in my signature.

I don't use Q2007 on a regular basis (I'm probably going to upgrade from Q2005 to Q2008 sometime after the new year). I have read quite a few negative reports about Q2007, but in my testing I have only seen a fraction of the problems reported.

Reply to
John Pollard

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