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Level 1
posted Mar 31, 2021 6:58:25 AM

How to import .tax2019 business information into 2020 Self employed Turbo Tax?

I've only used Turbo Tax online Self employed version for the past 6 years.  My past business information is not showing up in this years version.  Is there a way to import this information without retyping all past years information?

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1 Replies
Expert Alumni
Mar 31, 2021 7:19:56 AM

Yes, the information should transfer from your 2019 .tax file to your 2020 income tax return. 

Note:  If you're required to file a tax return, you have to report ALL income, whatever the amount, including self-employment income under $600.

  • The $600 is a threshold below which a payer is not required to issue a form 1099-MISC, but the recipient of the income must report it (even for less than $600