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Subject Author Date
using Q2006 reports to balance capital gains jo 12-20-2007
Posted by jo on December 20, 2007, 5:33 pm
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 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<g>).

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.

Posted by John Pollard on December 20, 2007, 6:37 pm
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 jo wrote:
> 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.

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.

> 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<g>).

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

> 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.

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?

--
John Pollard
First initial underscore Last name at mchsi dot com
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Posted by John Pollard on December 20, 2007, 6:55 pm
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John Pollard wrote:

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

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.

--
John Pollard
First initial underscore Last name at mchsi dot com
Please reply to newsgroup



Posted by jo on December 20, 2007, 11:21 pm
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> John Pollard wrote:
> > I don't have Q2006 installed, so perhaps I am missing
> > something;
> > but I don't see anything like what you describe.
>
> 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.
>
> --
> John Pollard
> First initial underscore Last name at mchsi dot com
> Please reply to newsgroup

Thanks, John,

There are some things I can't do with Q2006 and one appears to be
running the schedule D report for 2007, so I cobbled the information
together using the Investment transaction report I referred to.
Possibly the phenomenon I'm seeing is a bug that's been fixed in
2007... there are a couple of places I've got "uncategorized expense"
as a category in reports where it has no meaning, but it would be
difficult to describe it to you. Is there a way to send you an
attachment? I'm going to spend a llttle time trying to detect a
pattern anyway but wasn't sucessful last time.

I'd like to install Q2007 (I use Home and Business) but believe I've
heard it's kinda buggy. It's really annoying being unable to project
into future years with some of these reports and functions (like tAx
Planner).

Posted by John Pollard on December 21, 2007, 9:57 am
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jo wrote:

> There are some things I can't do with Q2006 and one appears to
> be
> running the schedule D report for 2007, so I cobbled the
> information
> together using the Investment transaction report I referred
> to.
> Possibly the phenomenon I'm seeing is a bug that's been fixed
> in
> 2007... there are a couple of places I've got "uncategorized
> expense"
> as a category in reports where it has no meaning, but it would
> be
> difficult to describe it to you.

> Is there a way to send you an attachment?

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

> I'm going to spend a llttle time trying to detect a
> pattern anyway but wasn't sucessful last time.
>
> I'd like to install Q2007 (I use Home and Business) but
> believe I've
> heard it's kinda buggy. It's really annoying being unable to
> project
> into future years with some of these reports and functions
> (like tAx
> Planner).

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.

--
John Pollard
First initial underscore Last name at mchsi dot com
Please reply to newsgroup



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