Assign tax line items to categories

You can use Quicken to simplify preparing your federal income tax return. To do this, assign Tax Line items to your categories and categorize your transactions throughout the year. Quicken will generate the necessary tax reports for you.

Track your tax-related transactions

Many categories in Quicken are linked to Tax Line items based on the latest Federal Tax code. These Tax Line items help populate the Tax Summary report and are used when exporting your tax data to TurboTax.

For example, transactions assigned to the Gifts & Donations: Charity category are automatically mapped to Schedule A: Cash charity contributions on your federal tax return.

In addition to pre-defined tax-related categories, you can assign a specific Federal Tax Line item to any category or subcategory, including custom categories you create.

Assign Tax Line items

Follow these steps to assign Tax Line items to categories:

1. In Quicken, choose Window menu → Categories to open the Categories window.

2. Select the category you want to modify.

3. Click the Edit icon.

4. Turn on the Tax-Related switch.

5. Select the appropriate Tax Schedule/Form you will use.

6. Choose a Tax Line option.
   
   

   Open

   

    

7. Click Save.

Quicken will use this information to generate the Tax Schedule report and export data to TurboTax or other tax software.