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?? Categorize Pmt & Refund for Amended Tax Returns?

  
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Subject Author Date
?? Categorize Pmt & Refund for Amended Tax Returns? Margaret 02-29-2008
Posted by Margaret on February 29, 2008, 3:34 pm
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 Hello, I just posted the following over at the Quicken forum but thought
I would post here too. Let's see who's got the fastest service, eh? ;-)

Seriously, now...

I just had to amend both US and MI returns for 2005. I owe the feds but
will get a refund from the state. I'm at a loss as to how I would
categorize these transactions in Quicken. Can anyone help please?

Thx and Regards,

Margaret

Posted by danbrown on February 29, 2008, 4:38 pm
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 I've got 2 tax related categories set up in Quicken.
TAXES, with sub-cats for "Estimated Tax Pmts", "Federal Tax W/H",
"Medicare Tax W/H", "Soc Sec Tax W/H", "State Inc. Tax W/H" and "Sales
Tax" --- which hold current year payments. These are all associated
with a tax line.

Then, there's the category "Prior Yr. Taxes", with sub-cats "Federal
Taxes" and "State Taxes" which I use to post payments/refunds that
pertain to prior years. Only the "State Tax" line is associated with
a tax line item.

db

Posted by Margaret on March 1, 2008, 12:28 pm
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danbrown wrote:
> I've got 2 tax related categories set up in Quicken.
> TAXES, with sub-cats for "Estimated Tax Pmts", "Federal Tax W/H",
> "Medicare Tax W/H", "Soc Sec Tax W/H", "State Inc. Tax W/H" and "Sales
> Tax" --- which hold current year payments. These are all associated
> with a tax line.
>
> Then, there's the category "Prior Yr. Taxes", with sub-cats "Federal
> Taxes" and "State Taxes" which I use to post payments/refunds that
> pertain to prior years. Only the "State Tax" line is associated with
> a tax line item.
>
> db

Thx, Dan, here's a link to the thread on this topic over at the Quicken
Forums:

http://tinyurl.com/2wsmlu

Regards,

Margaret

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