Business Categories

I have Qucken Home business and rental. Hoe do I create new business categories? When I add categories it adds them to the personal but won't let me create business ones.

Comments

  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    I suggest you assign the new category an appropriate tax line item associated with a business related tax schedule.
  • volvogirl
    volvogirl SuperUser ✭✭✭✭

    For an income or expense category to show up under Business you have to assign it a Schedule C tax line number.  Go into Edit Category and assign it one.  If you need to see a schedule C, here's the blank form….
    http://www.irs.gov/pub/irs-pdf/f1040sc.pdf

    You can either assign the tax line number to an existing category or you might want to set up a new category for it to keep the existing one under personal if you have the same expense for both personal and business.

    To check the tax line assignment open the Category list by either clicking on the Category Icon or go to Tools-Category List or Ctrl+Shift+C.  Then select the category and right click on it to Edit it.  Click on the Tax Reporting Tab and check the box for Tax related and pick a Schedule C: tax line item.

This discussion has been closed.