Online vs Desktop

[Anonymous]

I'm getting EXTREMELY frustrated with TurboTax. We just started an LLC (7 members) last summer (6/19). I JUST started using QuickBooks Online because I thought it would be easy to use with TurboTax. Apparently there isn't a way to sync QB Online with the TurboTax Business Desktop version?? I was on with customer service for 30 minutes and finally hung up on her because she did not understand the difference between the two. Hopefully someone on here can actually answer?

[tagteam · Accepted solution]

The following is from the QuickBooks team:

Currently, the ability to directly import your data to Turbotax Desktop is not yet available......you'll have to convert your QuickBooks Online data to QuickBooks Desktop using a trial subscription.

For a step-by-step importing process, you may check out this article: How do I import QuickBooks data into TurboTax Business?

[bestmurf]

I have a similar issue.

Do I need to buy TurboTax Business Desktop version or can I use Turbo Tax Home & Business 2019 Desktop version to import?

https://ttlc.intuit.com/community/entering-importing/help/how-do-i-import-quickbooks-data-into-turbo...

Turbo Tax Home & Bussiness is a better fit, as I'm filling my start-up LLC business on my personal taxes.  All the forums I submitted to the government, have stated that I was planning on filing my taxes with this method.   Changing this would cause me to restructure my LLC, so frustrating.   

[tagteam]

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@bestmurf wrote:

Turbo Tax Home & Bussiness is a better fit, as I'm filling my start-up LLC business on my personal taxes. 

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TurboTax Business would not be used to prepare a return for a single-member LLC without an election to be treated as a corporation. You would use TurboTax Home & Business in that case.

[VolvoGirl]

If your LLC is a Single Member LLC and not set up as an S corp you do file it on your personal tax return on schedule C.  It is a disregarded entity.  You need the Online Self Employed version or the personal desktop Home & Business version.  actually any Desktop program.  All the Desktop programs have the same forms. You just get more help and guidance in the higher versions. 

But not Turbo Tax Business.  The small business program (TT Business) is for 1120 Corporation, 1120S Corp, 1065 Partnership or 1041 Estate/Trust returns and will not do your personal 1040 return and not schedule C.

You can only import the online QuickBooks into the online Self Employed version not to the Desktop Home & Business Or Business programs.

Are you using QuickBooks now?  Which one?  

QuickBooks Desktop data cannot be imported into TurboTax Online or TurboTax Desktop software for Mac.

How to import from QuickBooks into Windows Desktop personal programs

https://ttlc.intuit.com/community/entering-importing/help/how-do-i-import-quickbooks-data-into-the-t...

[teresamorgan0301969]

Hello, @tagteam 

I started online but because it didn't have one of the forms I needed, I was sent the Desktop version which I used to file my 2020 taxes. The problem now is that I'm getting reminders from online saying I haven't filed which is disconcerting and I don't have access to my 2020 return on my online account. How do I import this so it's all on the online account?

Thank you,

Teresa M.

[JeffreyR77]

You can transfer last year's tax data file (with a filename extension .tax2019) if you're preparing your 2020 return online in TurboTax Live Basic, TurboTax Deluxe, TurboTax Live Deluxe, TurboTax Premier, TurboTax Live Premier, TurboTax Self-Employed, or TurboTax Live Self-Employed. (Free Edition, with or without MAX, doesn't support transferring last year's .tax file.)

You won't be able to transfer a PDF, it must be a tax data file with a filename extension .tax2019.

Remove any password protection from the data file before transferring.

Here's how to transfer:

You have to use TurboTax Online on your computer to do this transfer (it won't work from a mobile device/mobile web, or in the mobile app).

1. Sign in to TurboTax Online and start a new return, or open or continue a return you already started.
2. After the screen has loaded, select the Tax Tools drop-down menu in the left menu and then select Tools.
3. In the pop-up window, select the Transfer last year's TurboTax return from your computer link. (If you don’t see this option, you may need to clear and start over.)