Auto Expenses listed under "Auto Expenses Rental A"

[raycandy]

I have a consulting company (sub S) with 2 vehicles owned by the company. Rather than use standard mileage deduct I use actual expenses. When I import from quickbooks to TT it always classifies it as "Rental Real Estate General Expense". I don't own any rental real estate and have told TT that but it still puts it here. Why not under my normal operating expenses? Am concerned if I leave it here It won't be a deduction since there is no rental income to offset it. What to do?

[Carl]

Basically, the issue is caused by how you've set it up in Quickbooks. You've identified the expenses on that asset as a rental expense, when it is not.

I use the desktop version of QB 2018, so don't know if the below will be of help or not.

In QB select LISTS then CHART OF ACCOUNTS.

Right click on the one for Automobile Expenses, and select EDIT ACCOUNT.

Take a look at the "tax mapping" selection. My guess is that you have selected to map it to the 8825 form or SCH E, which is for passive activity. That would make the vehicle a rental property asset. So that's exactly how it would be imported by TurboTax.

[raycandy]

thank you, will give it a try and let you know

[Carl]

I am curious to know. Of course, I am assuming that you do in fact, have all your automobile expenses classified "as" an auto expense in QB. You just have it classified as a "rental" auto expense, when it should be a Business automobile expense.

I've got a single member LLC< so that's what my QB is set up for. I map auto expenses to "SCH C: Car & Truck Expenses". But since you most likely have QB set up for an S-Corp, your mapping will be different.

[raycandy]

 As you stated it was listed under form 8825, I also gad 3 subcategories,: repairs; tires, tubes and batteries; and gasoline. Changed them to "Other Deductions: Auto & Truck, reimported and still listing as rental expense. I'm gonna try backing up after the change, then reimporting and will report back. Am using Quickbooks desktop 2019

[raycandy]

erased the incomplete TT file and started from scratch and it finally worked. Thank you all for your help!!!!!!!!!!!!!