What if my business income and expense numbers are wrong in the Tax Planner?

You may have an account assigned to a tax form line item.

Assigning an account to a tax form line item assigns every transaction in that account to the tax form or schedule line item specified. Select the account from the Account List, click Edit, and then, in the Account Details dialog, click Tax Schedule Info. Check the tax information. When tracking business income and expense, you probably don't want to assign Transfers In or Transfers Out to a tax form line item, since a transfer isn't an income or expense event.

You may also see last year's total from TurboTax as well as current-year transactions.

After you import data from TurboTax, it is possible that you will see last year's total from TurboTax as well as current-year transactions included in your business income and expenses in the Tax Planner. This happens when there is no current-year transaction of the same type as the amount coming from TurboTax. For example, Quicken assumes that Schedule E income amounts from TurboTax are rental income. If you have royalty income in your current transactions, you will see both the TurboTax amount and the royalty income in the Tax Planner. You can edit this by opening the Tax Planner and changing the amount from last year to zero.


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Tip: To find out which version of Quicken you are using, open Quicken go to Help menu and select About Quicken.