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Level 1
posted Feb 22, 2023 11:59:08 AM

QBO and 1120s

Hello.  Am I right that I need to purchase TT business desktop software to do a 1120 but there is no way to import information from QBO?  If that's true, that's kind of lousy set-up.

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5 Replies
Expert Alumni
Feb 22, 2023 12:11:07 PM

You can import QuickBooks. Right after you begin a new return in TurboTax Business, we'll ask if you used QuickBooks in 2022. Answer Yes and follow the on-screen instructions.

  • If you've already gone past that screen, select Import, then From QuickBooks from the File menu.

Additional information: How do I import QuickBooks data into TurboTax Business?

Level 1
Feb 22, 2023 12:43:18 PM

THank you.  Is that true for Quickbooks online, not just desktop?

Expert Alumni
Feb 22, 2023 12:51:28 PM

Yes.  Use this Article for specific directions on how to download to Desktop.

TurboTax for Windows Basic, Deluxe, Premier, and Home & Business versions can be imported directly from the QuickBooks Desktop software.

If you're looking to import QuickBooks into TurboTax Businesssee this article instead.

Before you begin

How to import

Related Information:

Level 1
Feb 22, 2023 1:05:26 PM

Are you saying that I have to FIRST go from QBO to QB Desktop (requiring a different subscription?), and then get TT business desktop?  None of the linked articles are clear on QBO-->TT Business desktop.

 

Expert Alumni
Feb 22, 2023 1:21:24 PM

Yes, TurboTax Business only imports from Quickbooks Desktop.  The easier process would be to print your Profit & Loss and Balance Sheet from QBO and manually enter your income and expenses and your balance sheet if you are required to.

 

@jsmokey1