How To Transfer QuickBooks Self Employed Tax Info to TurboTax Self-Employed or Live

As we are all familiar with the fact that how perfectly QuickBooks Self-Employed can be integrated with TurboTax. In this article, we’re going to demonstrate a feature that will surely back the above statement. From here, learn how to transfer QuickBooks Self Employed tax info to TurboTax Self-Employed or Live in a very much sophisticated process. The article consists of steps and tips to aid you to perform the transfer in QuickBooks. For any help, you may contact our Quickbooks ProAdvisor through Toll-Free No.+1-855-525-4247

In QuickBooks Self-Employed you can have a track of your self-employed income so whenever tax session, you are ready. You can directly transfer your tax info from QB Self-Employed to TurboTax when it’s time to file tax. Transferring the information will prevent any kind of data entry errors and saves time as well. Read this full article and you’ll know how to transfer data and what to do after that.

NOTE: You also have an option to transfer info to TurboTax Live but for this, you need to upgrade to the Tax Bundle or Tax Live. Your TurboTax Self-Employed subscription covers all the costs of filing your taxes.

Steps to transfer QuickBooks Self Employed tax info to TurboTax

STEP 1: Review your Tax Checklist

  • First of all, login to QuickBooks Self-Employed
  • Go to the Home.
  • Right next to the Profile ⚙ icon select the Text Checklist link.
  • From the task list, you need to select a task. This will you to the task so you can finish reviewing the data.
  • You need to finish the tasks from the tax checklist.

STEP 2: Send your Info to TurboTax

Once all the tasks from the task list are finished, follow the step mentioned below.

  • After that, you need to download the report, to do so select the Download Reports option and save the report on the system. Keep it somewhere, you may require this while checking some areas in TurboTax.
  • Next, select the Send to TurboTax option.
  • Review your TurboTax Sign In credentials. This email should be the same email address that you used for TurboTax Self Employed.
  • If everything seems correct then select the Send to TurboTax option.

After that, QuickBooks opens the TurboTax, and here you need to choose whether you want to send info to TurboTax Self-Employed or TurboTax Live.

NOTE: You need to enter the sign-in credentials to log in to TurboTax. If you don’t have a TurboTax account then don’t worry, we’re going to mention this too.

STEP 3: Review your Info in TurboTax

Now, you can review your imported data in TurboTax to make sure everything is fine.

  • After QuickBooks redirects to TurboTax, select Continue and follow on-screen steps.
  • Then, you need to answer some questions about your tax situation and basic questions about yourself.
  • Double-check every information you enter before proceeding to the next step.

Once you answered all the questions TurboTax will import all the QuickBooks Self-Employed Data.

  • Select Let’s Get Started link.
  • In TurboTax, go to the Income and Expenses tab.
  • Then, select the Review option from the Self-employed income and expenses section.

Now, you need to review the data that you receive from QuickBooks. You might also find that some of your Self-Employed info is incomplete. You also need to review this info. Here is the list of data that may not be imported from QuickBooks to TurboTax.

  • Now you have to review the Self Employed work and income, for this follow the on-screen steps.
  • Then, go to the summary page > Information we need to confirm section.
  • Review all the information here and if everything is fine, click on Look’s good option.
  • On the next page review the income details and expense categories. If you want to review any other section then click on the Review and to make changes click on Edit option.
  • In order to add more income or expense, you need to click on the Add income for this work or Add expense for this work respectively.
  • When you review all the information, click on Done.

Important Deduction Tips

  • You have to keep in mind that QuickBooks Self-Employed only tracks federal estimated tax payments i.e. Self-Employment Tax and Federal Income only. QB Self-Employed doesn’t track state estimated taxes so may need to enter that manually.

STEP 4: Add info in TurboTax

Even though QuickBooks Self-employed tracks almost all the income and expenses related to your self-employed work, however, there may be some information that QB Self-Employed may not have been recorded or you may record it somewhere else.

  • 1099-K Form.
  • Health Insurance Plans.
  • Schedule C
  • All the business expenses that you didn’t record in the QuickBooks Self-Employed such as Vehicle Expenses and Interest, Other vehicle expenses, interest paid, home office expenses, etc.

TIP: It is important that your TurboTax should know that you’re subscribed to the TaxBundle. TurboTax will prompt you to pay filing fees if you don’t follow the steps mentioned above to send your data to TurboTax.

How To Upgrade to the Tax Bundle

The concept of upgrading to the tax bundle will come out when your current QuickBooks Self-Employed subscription has ended and you want to update it to prevent yourself from overlapping payments.

Note: If you have subscribed to QuickBooks through your mobile application, then below we have discussed the simple and easy steps to update the tax bundle from the app.

We separately defined steps to upgrade it either through your iPhone or iPad(if Apple user), through your Phone or Tablet(if Android user), and last but not least update through the web browser.

On an iPhone or iPad (iOS)

Go through the simple steps chosen only if you are an Apple user otherwise move to follow further to upgrade to the tax bundle.

  • Firstly, choose the Profile icon
  • After that, click on the Settings and then choose the Subscription
  • Scrolling up/down whenever you will see both the QuickBooks Self-Employed and TurboTax Bundle.

Note: If you are unable to see this option, you need to wait some time whenever your next subscription renewal date will not come. If you don’t want to continue with your existing plan, you can cancel it anytime with your current QuickBooks Self-Employed subscription and then resubscribe to the Tax Bundle

  • When you’re ready, just click on the Subscribe now.
  • Follow the simple steps to upgrade to the tax bundle

Point to Remember: If you are willing to upgrade as early as your next renewal date then the charge deducted for your previous subscription(if the plan is not expired a few amounts left as the remaining balance), the remaining balance of your previous subscription will not cut off the charges for the Tax Bundle subscription, you need to pay the full amount on the day you update. Apple will not refund you the price difference automatically, to get your difference you need to request refunds directly through Apple.

On a phone or tablet with Android

Go through the simple steps chosen only if you are an Android user otherwise move to follow further to upgrade to the tax bundle.

  • In the starting step, click on the menu(☰) icon
  • Choose your Profile icon and then click on the Subscription
  • Now swipe left and then click on the Change Subscription now
  • Click on the Next and the execute the complete steps to upgrade

On a Web Browser

Go through the simple and easy steps to upgrade to the tax bundle. Take a look at it:

  • Choose the Profile (⚙) icon and then click on the Billing info.
  • Seeking for the TurboTax logo and then click on the Get our Tax Bundle
  • You can either click on the Subscribe Now or Switch Now option
  • Execute the steps for adding your payments details and information
  • Click on the Subscribe to bundle
  • When everything is done successfully, just click on the Done

The Bottom Line

It is important to transfer QuickBooks Self Employed Tax Info to TurboTax Self-Employed or Live. If those users who have a subscription of the TaxBundle don’t import data using this procedure then they have to pay the filing fees twice. If you found any difficulty immediately contact an expert for a solution. You can call QuickBooks ProAdvisor for an instant solution, call us at our 24/7 toll-free number +1-855-525-4247.

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