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Subject Author Date
Tax Report Wrong Jeff Schwarz 01-13-2007
Posted by User on January 26, 2007, 7:29 pm
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> The Buy/Sell sequence for DELL should appear in QW's Capital Gains
> Report. It should not appear in QW's Tax Schedule Report. The info
> shown in the Tax Schedule Report under Sched D is for LT/ST Gains
> Distributions - not the same as LT/ST Capital Gains.
>

I believe you are mistaken, after all, the Tax Schedule report is the one
used to export to TurboTax, and capital gains need to be reported to
TurboTax, so they should be somewhere on the report. Further, capital gains
distributions are reported on the same line of your tax forms as regular
capital gains. All capital gains belong in this report, whether a
distribution or from a transaction.

Finally, the report doesn't work as you suggest, either, because these
capital gains are appearing in it.



Posted by JM on January 26, 2007, 7:55 pm
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> > The Buy/Sell sequence for DELL should appear in QW's Capital Gains
> > Report. It should not appear in QW's Tax Schedule Report. The info
> > shown in the Tax Schedule Report under Sched D is for LT/ST Gains
> > Distributions - not the same as LT/ST Capital Gains.I believe you are
mistaken, after all, the Tax Schedule report is the one
> used to export to TurboTax, and capital gains need to be reported to
> TurboTax, so they should be somewhere on the report. Further, capital gains
> distributions are reported on the same line of your tax forms as regular
> capital gains. All capital gains belong in this report, whether a
> distribution or from a transaction.
>
> Finally, the report doesn't work as you suggest, either, because these
> capital gains are appearing in it.

Have been using TTax And QW for 15+ years. The Tax Schedule Report and
the Capital Gains Report are used in conjunction with each other to
complete your various tax schedules. The 'Tax Schedule Report' does not
[nerver has] report Gains/Losses from the sale of securities. The
information from both of these reports is apparently imported into TTax.


Posted by JM on January 27, 2007, 8:55 am
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I need to modify this comment. The ST Cap Gains Distributions are
reported under Sched B, not under Sched D, The Sched D section of the
Tax Schedule Report includes LT Cap Gains Distributions only.

> The Buy/Sell sequence for DELL should appear in QW's Capital Gains
> Report. It should not appear in QW's Tax Schedule Report. The info
> shown in the Tax Schedule Report under Sched D is for LT/ST Gains
> Distributions - not the same as LT/ST Capital Gains.
>
>
>
>
> > I am using Quicken 2006 Basic (Release QA 5, which I think is the latest).
>
> > I bought 200 shares of DELL on 11/18/2005. I sold 200 shares on 02/23/2006
> > (less than 12 months).
>
> > In Reports & Graphs I click on "Tax Schedule (for export to TurboTax)". The
> > DELL transaction appears under Schedule D -- LT gain/loss - security.
>
> > Shouldn't that be under short term (ST) gain/loss?
>
> > I have many other short term transactions which are also appearing under
> > long term. What gives? Why is it doing that? Has anyone else experienced
> > this problem?
>
> > Thanks,
> > -Jeff- Hide quoted text -- Show quoted text -


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