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Can I use a version of TurboTax not equivalent to Business & Rental Property?

I use the Business and Rental Property version of Quicken, because I have a side business. It seemed the best thing for me to use. I did work last year (2019) for a client, but he hasn't yet paid me, so for 2019's income tax I'm not sure if I should use the version of TurboTax that one would normally use, when using Quicken Business & Rental Property, or if I should go with a lower version. I'm asking here for your advise, please.

Best Answer

  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    Accepted Answer
    If the client hasn't paid, it isn't 2019 income.
    A lower version of TTAX should work for you ... unless you have OTHER business income or expenses ... because the expenses WOULD be 2019 tax items.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP

Answers

  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    Accepted Answer
    If the client hasn't paid, it isn't 2019 income.
    A lower version of TTAX should work for you ... unless you have OTHER business income or expenses ... because the expenses WOULD be 2019 tax items.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
This discussion has been closed.