Quicken tax estimates

[LovesLife]

Since I am fairly new at using Quicken, I am curious as to the accuracy of the Quicken tax planner. Has anyone felt that Quicken did a good job at estimating the taxes due on the dividends, interest and cap gains recieved? I am using Quicken Premier 2004. Thanks.

LL

[cube_rat]

I have Quicken 2006 Premier. I have yet to adequately reconcile my accounts to the point where feel comfortable enough with using the tax planning piece. I'd like to hear from others on this subject as well.

[azanon]

LL,

I believe you have to have the current year quicken to do a tax estimate. I have 2004 quicken as well, and that is what i noticed. It wont work for this year.

Azanon

I have the 2006 Premier version and the others before. It has never been able to calculate the Capital Gains tax correctly, since the change in 2004. It still treats the dividends as ordinary income.

I reported it to Quicken many times, but they are too big now to be bothered with bugs in their software.

[LovesLife]

Thank you for your answers. Would it be benifical to play around with a Turbo Tax type of software for more accurate estimates? I have always had a CPA prepare my taxes and will continue to do so for year end returns. My purpose is to keep on top of the estimates and to plan accordingly.

LL

Quote:

Originally Posted by LL Thank you for your answers.* Would it be benifical to play around with a Turbo Tax type of software for more accurate estimates?* I have always had a CPA prepare my taxes and will continue to do so for year end returns.* My purpose is to keep on top of the estimates and to plan accordingly. LL

What I have been doing is searching Google for '2005 tax calculation estimate' or something like that. I have found some very good estimaters this . I'll be doing this myself next month!

Is Quicken 2006 any better than Q2005?

Quote:

Originally Posted by TromboneAl Is Quicken 2006 any better than Q2005?

I took a brief look at the 2006 Tax Estimater, and I believe that is still treats Capital Gains and Dividends as regular income. - I go on-line to find a more accurate one.

Sorry, I meant was it better in general.

Quote:

Originally Posted by TromboneAl Sorry, I meant was it better in general.

I skipped 2005, so I went from 2004 to 2006. Actually, if anything it's proably a little worse. They just put a new shade of lipstick on the pig!

Right. I guess they are continuing with there policy on a steady decline in quality. I just have this dream that someday I will upgrade and all the bugs and irritations will be gone.