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Are you a sole proprietor? Are you planning to import your financial information from QuickBooks to Turbo Tax?
Then you probably know that you need to assign tax lines to each line on the Profit and Loss statement.
How to Assign Tax Lines
Go to your Chart of Accounts by pressing Control-A. At the bottom there is a button called Account. Click it. Choose Customize Columns. The Customize Columns window opens.
On the left side highlight Tax Line. Click Add. QuickBooks moves it from the left column to the right column. Click OK.
You can now see which accounts have been assigned, and which still need to be assigned.
Highlight each account here, press Control-E, and make sure each is assigned correctly.
This step is critical. It ensures that the data from QuickBooks goes to the correct tax line on your tax return.
If you are not sure which accounts should get assigned to which tax lines, don't guess.
I can do it for you.
I am offering a special price for "Tax Line Assignment Only" clients.
$75 for Tax Line Assignments
Sole Proprietors only, please. Contact me at this link to take advantage of this special offer.
If you need me to take a look at your file, run reports, or do other diagnostic work, I can do that too. It's completely optional - I can to tax line assignments only, or more. The choice is yours.
No need to worry about about tax line assignments anymore. Contact me today.
To a successful tax season!
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