Import transaction data from excel to Turbotax

Forum|Forum|5 years ago
August 23, 2021
5 replies
75 views

Hello,

I've worked a lot on an excel to categorize all my transactions from my self-employed business.

Is there a way to import them directly on Turbotax? So that I don't have to write them again: it's quite painful, especially that categories are a bit different from Schedule C to Turbotax

So, I'm lost!!

Thanks in advance

Pierre

TurboTax Self Employed Online

DanPaul02

Level 8

The is no easy way to import from Excel to TurboTax. But you can use Quickbooks and import your Excel into Quickbooks. Then Quickbooks will let you import your tax data into TurboTax.

VolvoGirl

Level 15

You don't need to enter all the transactions. I just enter the category totals into Schedule C from my listing. There's not very many categories. Why aren't you using the Schedule C categories? Mainly like Supplies? Most stuff can go in there. Are you making a lot of misc categories to go on line 27a from Part V?

Do you need to see a Schedule C to help properly categorize your expenses?

https://www.irs.gov/pub/irs-pdf/f1040sc.pdf

VolvoGirl

Level 15

If you have them all in excel I assume you have a Category Column? Did you sort by the Category column? Then add a couple rows between the Categories and enter a sum for each category.

PHJ220345Author

Level 2

Hi @VolvoGirl ,

Yes I have computed the sum of transactions and split them between categories

But there are probably some tax rules that I don't master (for example for home office and assets depreciations). So I would prefer to go with Turbotax but I've the feeling that for most of categories, I just have a copy paste to do

So I was wondering if I could import a CSV file to go faster without errors