For transactions to be included in the Tax Schedule Report, tax-related income and expense categories need to be assigned to tax schedule line items.
1. How to Use the Tax Schedule ReportYou can export data directly from the Quicken Tax Schedule report to Windows-based income tax preparation software. You can also use this report to export tax data to Microsoft Excel, a PDF, or to Windows clipboard.
Before importing the data from the Tax Schedule Report, examine the report for any inaccuracies. The tax data will be incorrect unless you have assigned every tax-related transaction to the appropriate income or expense category.
If you want to import tax-related data into TurboTax, you need to follow another procedure where TurboTax will automatically import the data for you.
2. Create a Tax Schedule Report
- In Quicken, click on Reports, Tax, Tax Schedule
- The date range will probably default to a yearly report for the current year, change this to last year or another time period if needed.
- Change the date range if you need to. If you do not want a yearly report, select quarterly or another date range.
3. Export Tax Data from Quicken
- Click on Export Data on the upper left portion of the report window.
- Click on the export type:
- Report to tax export file to create a .TXF file you can import into tax software
- Report to Excel compatible format to create a .TXT file to import into Excel
- Export to PDF format to create a PDF file
- Copy to clipboard to paste the data into a document
4. How to Use the Exported Tax DataIf you are importing your Quicken tax data into tax software, consult the documentation under Help in your tax software. Search for importing data or import from Quicken for specific directions on how to import the data.
If you are using Microsoft Excel to analyze the tax data, click on File, Open then select the exported file. Excel will walk you through converting the data.
If you exported your Quicken tax data to a PDF and you have Adobe Reader or other software that opens PDFs, you just need to double click on the exported file to open it.
5. Exporting Schedule D Data for Reporting Capital Gains and LossesThe Quicken Tax Schedule Report does not export data for Schedule D - Capital Gains and Losses. Instead, you'll need to create a Capital Gains Report and export the data to a separate file for Schedule D reporting.
Be sure to give the two data files generated from the reports different file names. Each exported file will likely have the same extension (for example, .TXF to import into tax software) and if the files have the same file name, the second data file will over-write the first one.