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Posted by John Pollard on April 22, 2007, 3:34 pm
Please log in for more thread options Don in San Antonio wrote:
> John Pollard said the following on 4/22/2007 12:15 PM:
>> Don in San Antonio wrote:
>>> Using Quicken 2005 Premier - I'm having a problem with
>>> the Tax Planner in that my pretax contributions are not
>>> being deducted from my salary in Tax Planner.
>>>
>>> I'm using the Paycheck form feature and have the pretax
>>> retirement contributions in the proper area and the
>>> taxable income at the bottom of the form seems to be
>>> right, but when I go to the tax planner, it shows my
>>> entire salary without the retirement contributions
>>> deducted. How can I get Quicken to recognize the pretax
>>> contributions? Anyone else having this kind of problem
>>> with the tax planner.
>>
>> Two thoughts come to mind:
>>
>> 1.) Make sure you have assigned the pretax contribution
>> categories to the correct Tax Form lines.
>> 2.) When you look at the "Details" in the Tax Planner, I
>> think you'll see the scheduled gross salary items listed
>> first, followed by all the transfers to retirement
>> accounts.
>
> I searched high and low for a way to associate pretax
> contributions from the paycheck form, but came up empty. And,
> I didn't see the details you wrote about in tax
> planner. From what I could see there's just one line for
> Salary and Wages. Could be this is just a version
> difference or I'm looking in the wrong place. But with
> your encouragement, I was able to figure out this problem
> that's been bothering me for over 10 years.
> I went to the account where my 403B contributions were
> being transferred and unchecked the tax exempt box. Then
> I set "transfers in" to "W2 Salary or Wages." After
> making these changes, the tax planner now shows my wages
> and salary amount adjusted down for 403B contributions. This
> has changed the tax planner into a really useful
> tool. Thanks for the help.
Glad you got it working ... very little due to my post, I think.
Just to clarify:
I was (incorrectly) thinking of assigning the _401xxx categories
to the "W2 Salary or Wages" Tax Form line. You got it right, by
changing the "transfers in" to that Tax Form line.
And in the Tax Planner, at the bottom of the screen for most of
the summary amounts, is a section where you can elect to "Show
Details" (or "Hide Details"). When you select one of the lines
at the top of the screen, say "Wages and Salary, Self", then
click "Show Details" at the bottom of the screen, you can see
the actual and scheduled transactions that the planner is using
for that summary amount at the top of the screen.
--
John Pollard
First initial underscore Last name at mchsi dot com
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