Municipal bonds can be tax free on the Federal level but taxable at the state level (it depends on where you live and what bond you’re purchasing).
Record municipal bond interest as miscellaneous income; Quicken adds the income as a MiscInc transaction in your investment account transaction list.
- Open the account you want to use.
- Click Enter Transactions.
- In the Enter Transaction list, select Inc - Income.
- Record the interest as miscellaneous income.
- Categorize the interest payment. If part or all of the bond is taxable, create a category for municipal tax interest and link it to the correct tax form. At tax time, you can run a category report and obtain the total taxable interest for all your municipal bonds.
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