How do I update my tax information in the Tax Planner

 Before you gasp at the Remaining Tax Due or Refund Due number displayed in the Tax Planner, be sure to review all the figures on which that number is based. To estimate your taxes for a full year, be sure that all information in the Tax Planner reflects your best estimate of projected annual amounts. After you've verified all your financial information projected for the year, the Tax Planner calculates your total projected tax bill or refund due.

  • Remaining Tax Due: The projected amount of tax you could owe at year's end.

If the remaining tax due is more than $1000, you may need to make quarterly estimated tax payments or increase withholdings to avoid penalties and interest when you file your return. The regulations about who needs to file quarterly estimated tax payments are complex, and you should consult IRS publications or a tax professional to make a final determination, but a tax due of more than $1000 should be a warning to investigate whether you need to file quarterly estimated tax payments or change your withholding allowances on your W-4.

  • Refund Due: This is the projected amount of refund you should receive at year's end.

If the projected refund due is significant, you may want to consider reducing your planned estimated tax payments or withholdings.

1. Run a Tax Schedule report.  

• Remember that the Tax Schedule report shows the totals of actual transactions, whereas the data in the Tax Planner includes projections based on those transactions.

2. Print the Tax Schedule report. (Optional)

3. Compare the report data to the information in the Tax Planner. You can do one of the following:

  • Click Next and Previous to page through the Tax Planner.
  • Select each item (such as Interest/Dividend Inc, Deductions, and Tax Payments) from the list on the left, and review the information in each of these pages.

4. If you want to find out where the Tax Planner obtained its information (for example, from TurboTax, from Quicken data, or from data you entered), display the Tax Planner details.

5. To edit the data in the details section, click User Entered, and enter your new information.

6. Depending on how much of your financial information you track in Quicken, you may need to add information manually using your paper records (such as paychecks and bank statements).

  • Tell me more
    If you track all your financial information in Quicken or import TurboTax data, you may not need to enter any information manually.

    As you step through the Tax Planner, verifying the information it contains, each page has a field that indicates one of the following:
    • Tax Due: The amount of tax you're projected to owe at year's end
    • Refund: The amount of refund you're projected to receive at year's end

    If you want to reset your user-entered data back to projections based on your Quicken data, click Reset in the Tax Planner toolbar, and then click Reset to Quicken Default Values. Fields for which no Quicken data is available are reset to zero. 


  • You should thoroughly review all your information in the Tax Planner after you've imported the previous year's data from TurboTax and have a month's worth of tax-related transactions for the current year (for example, after you've entered a few paycheck transactions).
  • The Tax Planner doesn't support the use of foreign currencies.

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