How do I export my QuickBooks Self-Employed information to TurboTax Self-Employed?
The export can be done only from the online version of QuickBooks Self-Employed to TurboTax Online Self-Employed. It will not work from QuickBooks Self-Employed to the TurboTax CD/Download or from the mobile app.
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:
- Sign in to QuickBooks Self-Employed,
- Click Tax Checklist in the upper right corner, or from the Annual taxes page, click Show checklist to get started.
- When you’re ready, click Export to TurboTax in the checklist.
- 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, 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.
1099-MISC info that you already entered in QuickBooks should not be re-entered in TurboTax.
Here are a few other things you should know:
- New This Year! 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.