I tried to add category in my business level. How can you do this.

Hi,

I'm a realtor and I want to add a category in my business income. Every time I add a category, it goes in the personal group. I need to be in my business group. Please help. I went list category>manage>?

Best Answers

  • Imarealtor
    Imarealtor Member ✭✭
    Accepted Answer
    I want to add, Listing Commission and Buying Commission

Answers

  • 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.  


  • Imarealtor
    Imarealtor Member ✭✭
    Accepted Answer
    I want to add, Listing Commission and Buying Commission
  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    edited August 2020
    Hi @QuickRealtor,

    Here are the steps:

    1) Go to: "Tools" > "Category List" and find the category that you've already setup using the search function;
    2) Click on the Category Name > click on the circle with the arrow in the "Action" column > then click "Edit";
    3) In the pop-up window, click on the "Tax Reporting" Tab;
    4) Click the "Tax related category" box > in the "Tax line item for this category" drop-down list - page down to the "Schedule C" section and pick an expense type description that matches the type of expense you have (if you can't find something similar, just pick "Schedule C:Unspecified Business Expense") and click "Save".

    That should do it.  Let me know if you have any followup questions.

    Frankx


                           Quicken H&B-Subscription Ver. 34.24 - Windows 10-Home Ver. 2004
                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    edited August 2020
    Actually, I believe that the commissions that the OP cites are INCOME, not expenses ... but, in general, the advice still applies.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • Imarealtor
    Imarealtor Member ✭✭
    I want to add Listing Commission in the Business Income
  • Imarealtor
    Imarealtor Member ✭✭
    I did this.. when I finish, it does not appear in the business income.
  • Imarealtor
    Imarealtor Member ✭✭
    Step by step: I click on Business Income>in the window, you will see Consulting Income, Other Income, and Sales.>I click new Category>Small window box appears>Details and Tax Reporting> Before I add anything in Tax Reporting, I have to add a Category> I add Listing Commission>I click on Tax Reporting and I enter- check the box-Tax related>Check the box-Standard line item list>then click on schedule c:gross and receipt.

    When I close out, it does not appear in my category under Business Income
  • Imarealtor
    Imarealtor Member ✭✭
    I have to divide my category to know where my money is coming from. As a realtor, I make money selling and buying homes. This is very important to know where my money is coming from.
  • volvogirl
    volvogirl SuperUser ✭✭✭✭
    Where?  On a report?  You have to customize the report and add the new category.  
  • Imarealtor
    Imarealtor Member ✭✭
    I want to be able to add in my business income: Listing Commission or Buyer Commission. When I pull a report monthly, I want to see where is my commission coming.
  • Imarealtor
    Imarealtor Member ✭✭
    edited August 2020
    can I email you a screenshot?. My email is [email removed for your safety/privacy]
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    edited August 2020
    can I email you a screenshot?. My email is [email removed for your safety/privacy]

    With their assistance, you can email a screenshot to Q Support.
    You can't email a screenshot to another user.
    When you get a few more points, you can post a screenshot here.
    BUT, why does @volvogirl's suggestion of an hour ago not work for you?
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • Imarealtor
    Imarealtor Member ✭✭
    BUT, why does @volvogirl's suggestion of an hour ago not work for you?

    I tried and it won't add the category under "Business Income"
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    BUT, why does @volvogirl's suggestion of an hour ago not work for you?

    I tried and it won't add the category under "Business Income"

    It won't add ANY category under "Business Income" unless you assign an appropriate BUSINESS tax line to that category.
    The category (with or without the appropriate tax line) won't appear on ANY report unless you customize the report to include that category  and then save the report with a name that's meaningful to you.
    Where else are you expecting to see this "Business Income"?  And what specific report are you looking at?
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • Imarealtor
    Imarealtor Member ✭✭
    I can edit but I cant add a new category under Business Income.
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    edited August 2020
    AGAIN, create a category and add an appropriate BUSINESS tax line.
    Several people have described in detail how to do that.
    Why don't you describe, step-by-step, what you're doing ... with both the expected and actual results at each step.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • Imarealtor
    Imarealtor Member ✭✭
    I did it... Thank you!!!!!!!!!!!!! Im sorry!
  • Imarealtor
    Imarealtor Member ✭✭
    Thank you for all support here!
This discussion has been closed.