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Sun Feb 2, 2020, 03:20 PM

At some point I may have to get the newest version of Quicken

Two years ago, when my new Mac and my old Quicken would not talk, I got the newer version. It is supposed to be a "subscription" renewable every year for around $35. Not for me. For my household expenses the older version is adequate.... As long as Apple and Quicken again will not play games..

So opening the program requires few extra step - skipping the "upgrade proposals" to go directly to the program.

But now I decided to generate the income tax related report: income, taxes, medical expenses - in case they exceed the standard deductions. Quicken allows one to designate specific categories as "tax related." Problem is, the tax system changed two years ago, and has been going further changes this year as far as forms go.

So... depending, of course, on the November elections, will wait a few more years to see how the tax reporting system gets shaken, again.

Between Quicken and my running Excel spreadsheet I think that I am ready to visit TurboTax.

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Reply At some point I may have to get the newest version of Quicken (Original post)
question everything Feb 2020 OP
Big Blue Marble Feb 2020 #1
question everything Feb 2020 #3
silverweb Feb 2020 #2
question everything Feb 2020 #4
csziggy Feb 2020 #5
silverweb Feb 2020 #6

Response to question everything (Original post)

Sun Feb 2, 2020, 03:53 PM

1. Quicken is no longer owned by Turbo Tax.

Which version of Quicken are you running and which MacOS?
I am still using Quicken 7 on Sierra because I really like it far more than the new Quicken.
I do maintain a current subscription to Quicken ($50). Still llke the older version better.

The tax laws are always changing. You can adjust your Quicken as to what is allowed
as deductible. Your tax preparer will be able to tell you. Or if you do it yourself, your
tax software will only calculate legit deductions.

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Response to Big Blue Marble (Reply #1)

Sun Feb 2, 2020, 11:14 PM

3. Yes, I know that Intuit does not own TurboTax

Just mentioned both. I have never downloaded data from Quicken to TurboTax. I really manually enter all data. Which is why it is important to me to have everything ready on the spreadsheet.

Quicken 5.7.2, Mac High Sierra 10.13.6. Yes, I liked the Quicken 7, used it for many years but then, as far as I remember, they were no longer compatible. As a matter of fact, I still keep my spouse's old MacBook with the Quicken 7. Several years ago when we did go to a CPA to prepare the taxes, and I had all the information printed, we had it with us to check on occasional items.

About the tax forms, just convenient. For example, in the old tax system, there was a room to report state refund. Now one has to use Schedule 1. Same with estimated taxes - we are retired - which has to be on Schedule 3.

And, as I found out, since many no longer itemized deductions, we did not, meaning we did not itemize state taxes, there is no need to report state refund for this year.



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Response to question everything (Original post)

Sun Feb 2, 2020, 04:59 PM

2. Don't subscribe to Quicken.

Intuit sold it to another company, which immediately put it on a "buy our software AND subscribe to use it." No way was I going to continue using Quicken after that. Meanwhile, Intuit came up with another inexpensive bookkeeping program almost identical to Quicken. It's called MoneyDance and I've been using it for two years now. I started with the free trial and as soon as I realized that it was virtually the same, bought it for around $50. I have not been disappointed.

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Response to silverweb (Reply #2)

Sun Feb 2, 2020, 11:16 PM

4. Interesting. Two years ago I was looking for an alternative. There was actually a site aimed

at those tired of Quicken. But all of them used the Cloud, or other online as part of the program.

I also use AceMoney which is very easy to use, and have a Yahoo groups to discuss questions.

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Response to silverweb (Reply #2)

Mon Feb 3, 2020, 12:26 AM

5. Can you import your data from Quicken? Answered!

I've been using Quicken for about 30 years, I guess.

Last year I upgraded my Quicken and got sucked into their subscription thing - without realizing it was auto-renew. So it renewed a month or so ago, right when I started entering stuff to get ready for tax season. I used to enter about once a month, with my personal and business info but now my life is simpler so it's easier to do it about once a quarter - and last year I missed three quarter, what with sorting out my mother's estate, my operation, our trip to the UK, etc.

When I tried to download my checking account data, it would not import into Quicken. I checked some stuff and found that even when they charged me for another year, they did not offer me an update. It was over a year out of date and no longer supported import without it. I had to stop in the middle, upgrade, reboot, THEN I had to find the QFX file and import it so I could get back to work. PITA!

I found the answer to my question! Yes you can import Quicken data, with some caution. https://infinitekind.tenderapp.com/discussions/switching-from-another-personal-finance-program/15629-switch-from-quicken-to-moneydance and the PDF referenced in that thread.

Since I've already paid for a year of Quicken I may wait until I get my new computer built in a few months and migrate to Money Dance.

Thanks!

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Response to csziggy (Reply #5)

Mon Feb 3, 2020, 12:36 AM

6. I'm glad you found the answer!

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