Tax Reports only show Unspecified Business Expense Category

FlyerFran

When entering transactions for my business into Q' I use multiple Tax Line categories, like Schedule C:Meals and entertainment, Schedule C:Other business expenses, etc.   

When I create a Tax Schedule, Tax Summary, or other similar reports, all my business transactions are listed under the Schedule C portion of the report, but the only total shown is for **Unspecified Business Expense**. 

Not only does this prevent importing these transactions into TurboTax,  I'd like to see subtotals for each category under Schedule C in the report.  

UKR

Are these transactions tagged to the appropriate Business Tag which you set up for your business?
If not tagged, is the business marked as the "Default Business" in Business / Manage Business Information?

FlyerFran

Eureka!!!  Thanks to @UKR I now have my Tax Reports working like they're supposed to.  Although I had set up Business Tags, I never used them when entering transactions in Q'.  I also had left all my businesses unchecked in the Business/Manage Business Information setup.  

BTW, I used the Find/Replace option to add the appropriate Business Tag to all my transactions.  Now I have the Schedule C report for Taxes.

I now know why @UKR is a SuperUser.   

Tim Strigenz

I am having the same problem, but I'm not as savvy as FlyerFan or @UKR Maybe @UKR can help.

I have a rental property. Under the category list, I have "Rental Property Expenses" and all the appropriate subcategories.

I would like to have, for example, the water bill (which I pay for) be a Schedule E: Utilties, but rather they keep coming up as Schedule E: Unspecified Rental Expenses, instead of Schedule E: Utilities. How do I fix this? BTW, I am not savvy! So if you could dumb down the process, I would be most appreciative!

Tim Strigenz

@UKR, I think I figured it out. I had tagged the water bill transaction under the LLC that owned the property. Once I changed the tab to the rental property itself, it switched over to Schedule E: Utilities. Is this the correct way to report this for tax purposes and ease end-of-the-year reporting?

UKR

Tim Strigenz said:

@UKR, I think I figured it out. I had tagged the water bill transaction under the LLC that owned the property. Once I changed the tab to the rental property itself, it switched over to Schedule E: Utilities. Is this the correct way to report this for tax purposes and ease end-of-the-year reporting?

I would say so, yes. Keep an eye on it, to be on the safe side.