How to I transfer info from Quickbook Self-employed into TurboTax Self employed?

[morgaine816]

I have bought the Quickbook/Turbotax Self-employed bundle. I'm having trouble figuring out how to use the Turbotax half of this program. I moved over to the Turbotax site and logged in there and started there, and it seemed to be going ok, and then it said it wanted to import my data from my Quickbooks account. It switched back over, and then nothing happened. There were no further prompts of what to do next. I know I can skip that step, but that seems to defeat the purpose of paying extra for the bundle. I would appreciate any advice. Thank you.

[Critter]

How do I export my QuickBooks Self-Employed information to TurboTax Self-Employed or TurboTax Live?

The export can be done only from the online version of QuickBooks Self-Employed to TurboTax Online Self-Employed or TurboTax Live.  It will not work from QuickBooks Self-Employed to the TurboTax CD/Download; or from the mobile app version of QuickBooks Self-Employed.

• Your accounts must be connected for the import to work: This means you log into QuickBooks Self-Employed and either TurboTax Self-Employed or TurboTax Live with the same log-in credentials.
•  

Important! Before exporting, make sure your information in QuickBooks is final, as the export can only be done once. Should the export fail, you can manually input your business information into TurboTax Online

Self-Employed by selecting Federal Taxes, then Income & Expenses, and working in the SELF-EMPLOYMENT INCOME/EXPENSES section.

Here's how to export:

1. Sign in to QuickBooks Self-Employed,
2. Select Tax Checklist in the upper right corner, or from the Annual taxes page, select Show checklist to get started.
3. When you’re ready, select Export to TurboTax in the checklist.
4. After the export, you will automatically be signed in to TurboTax using your same user ID and password from QuickBooks Self-Employed.

Now you can start on your tax return.

Some information will need to be entered manually into TurboTax Self-Employed or TurboTax Live, as these items do not import:

• 1099-K income - Here is how to enter your 1099-K.
• For the following expenses, use these instructions to enter the expenses manually:
  • Vehicle loan interest
  • Other vehicle expenses
  • Home office expenses
  • Interest paid
• For self-employment health insurance premiums, use these instructions to enter the premiums manually.

Note: You will still need to manually enter your self-employment income into TurboTax. TurboTax needs all of the details about this income in order to report it accurately on your tax return. After you export your data from Quickbooks Self-Employed, TurboTax will guide you to enter your income.

Here are a few other things you should know:

• TurboTax will not require a service code for payment.  Instead, your complimentary TurboTax payment will be recognized by the program when you use your Quickbooks Self-Employed User ID and password. So, make sure you are accessing TurboTax with the same User ID and password that you use for your QuickBooks Self-Employed account.
• Meal expenses are imported at 100% deductible. TurboTax then determines the deductibility (50% for most businesses).
• QuickBooks estimated tax payments generally cover federal income taxes, not self-employment taxes.

Related Information:

• How do I access TurboTax Self-Employed when I’m ready to export my Quickbooks Self-Employed tax info...
• How do I enter a 1099-K in TurboTax Online?
• Where do I enter the home office deduction for my business?
• What is the self-employment tax?
• Where do I enter my business expenses in TurboTax CD/Download Home & Business?
• Where do I enter my health insurance premiums in TurboTax CD/Download Home & Business if I'm self-em...

[Critter]

Contact TurboTax support and speak directly with a TurboTax support agent concerning this situation.

See this TurboTax support FAQ for a contact link and hours of operation -https://ttlc.intuit.com/questions/1899263-what-is-the-turbotax-phone-number

[morgaine816]

Thank you for this comprehensive answer. I wish I had known it was this awkward of an interface when I bought it.