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Author: shess Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121061  
Subject: Prior year tax payments in Quicken Date: 9/14/1998 2:44 PM
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About 1/3 of the taxes we've paid in 1998 went with our 1040 in April. Now, the Quicken tax report shows this huge amount paid in taxes, which is really not quite right.

I suspect it's a problem with how the payments are categorized - right now, they're just Tax:Fed, etc. Clearly if I recategorize them, they wouldn't show up on the tax reports. But how will any add-on tax package find them then?

Even then, recategorizing the payments still lets Quicken include them in graphs such as YTD Expense Comparison. Is there any way I can indicate that a payment is for the prior year?

I'm considering adding a new account, to which I can transfer the funds on 12/31 of the appropriate tax year. Then I should be able to run reports against the remaining accounts and see the funds creditted as of the year they were paid for. Does this make sense, or is it a hairy hack?

Thanks,
scott
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