Quicken 6.10
Quicken Inc. has issued version 6.10 of Quicken for Mac, updating the app with new Dashboard cards in the Home tab for accessing data and productivity tools and streamlining the Add Account workflow (both require macOS 10.15 Catalina or later). The release also brings back Chase eBills, provides more sidebar account options, and improves the performance of switching between tabs (Bills, Income, Payees, Projected Balances, and Activity) and sorting columns. ($34.99/$51.99/$77.99 annual subscriptions, free update for subscribers, release notes, macOS 10.13+)
Poking around with this new version of Quicken – now up to 6.10.2 – I found that the Mac version of Quicken still appears unable to deal with with the difference between Fidelity Brokerage accounts designated for normal investments and my SEP-IRA. I have reached an age where I have to take minimum required distributions from the SEP-IRA each year, which I do by making charitable deductions direct from the SEP-IRA (which makes the whole amount donated deductible) and by transferring from the SEP-IRA into the regular investment account. Fidelity keeps track of this accurately. Quicken does not. I have designed the type of account as an SEP-IRA, it does not treat it as one. It lumps all transactions (other than charitable ones) in the same In particular, every time I change investments or in the SEP-IRA, the transactions are lumped under Investments as “realized gain/loss”. Dividends and capital gain from both my SEP-IRA and my regular investment account are lumped under “Investments” despite the fact that those from the SEP-IRA are not taxable and those in the regular account are. I can’t find where Quicken puts the money I transfer from the SEP-IRA to the regular investment account. The bottom line is that Quicken fails to distinguish between taxable and untaxable transactions.
I have searched Quicken’s help site, and found no answers. Does anybody know of a way to fix this?