nav[aria-label="Primary Navigation"] { padding: 0; & ul { list-style: none; width: 100%; display: flex; flex-direction: row; justify-content: start; align-items: start; gap: 30px; padding: 0; & li { margin: 0; } & ul li { list-style: none; } } }

Tracking Tax Deductible Business Expenses in Quicken Home, Business & Rental Property

unknown

I am looking to automate the process for tracking tax-deductible business expenses in Quicken Home & Business. I have created a category called "Deductible Business Expenses" and assigned that to line items within my transaction register. I am also including "Notes" to identify specifically what the expense was. I am generating the report "Spending by Payee" and filtering by the category "Deductible Business Expenses". This shows me the payee name and the amount. Does anyone know if there is a way to include the "Notes" column in this report to identify for my accountant what each of those expenses was specifically for?

Find more posts tagged with

Comments

q_lurker

No, there is no way to get the Notes field included in any reports or presentations. (That greatly limits the value of the Notes field, IMO.)

I would suggest you create and/or use more specific categories - Office supplies, Utilities, etc.. Also make sure each such category is assigned an applicable Schedule C tax-line item. Quicken should be offering a standard set of such expenses.

unknown

Michael
Question: Why are you wanting to use the notes attribute field instead of the memo field? I would think you can use most of the pre-existing business expense categories, re-assign them to your choice of tax-line items, use payee/description field, tags (isolate clients), and memo field. All of these are reportable/exportable. Export to Excel and it will be very easy for anyone including your accountant to isolate, group, and/or filter the dataset.

unknown

Robert,
Great suggestions. Thank you. I think this provides me with a workaround that makes sense. I appreciate your assistance.
Michael