Quicken Home Business Rental won't export business income to TurboTax

Forum|Forum|4 years ago
February 14, 2022
1 reply
11 views

Hi All,

'Native' importing of newest Quicken HBR .QDF file results in only expenses being seen; not income transactions. Looking at standard report file outputs of Quicken show correct business tags on income transactions but they don't show up in Turbotax, resulting in negative income reports for this business (while Quicken shows correct profit/loss results for the same business).

What am I doing wrong?

Thank you for your help!

Mike Henderson

TurboTax Home & Biz Windows

VolvoGirl

Level 15

You might need to ask over in the Quicken forum.

But I use Quicken and know.........

For an income or expense category to show up under Business you have to assign it a Schedule C tax line number. Go into Edit Category and assign it one. If you need to see a schedule C, here's the blank form….
http://www.irs.gov/pub/irs-pdf/f1040sc.pdf

You can either assign the tax line number to an existing category or you might want to set up a new category for it to keep the existing one under personal if you have the same expense for both personal and business.

To check the tax line assignment open the Category list by either clicking on the Category Icon or go to Tools-Category List or Ctrl+Shift+C. Then select the category and right click on it to Edit it. Click on the Tax Reporting Tab and check the box for Tax related and pick a Schedule C: tax line item.

emhendersnAuthor

Level 2

Hi Volvo girl,

Tax line assignments for income were good but native transfer still didn't work. Made custom txf transfers for each business and that worked. Quicken is obscure at the lower levels.

Thank you for your help!