The accuracy of the tax summary report depends on whether each tax-related
account has the right tax line assignment. Example
To do this task
Go to the Reports menu, choose Accountant & Taxes, and then click Income
Make sure the date range is for the
tax period you want.
At the end of the report, double-click the amount for Tax line
The amount is the total of all distributions to an income or expense account
without a tax line assignment.
In the report that appears, check for transactions that should be included
in the totals you report to the IRS. When you find a transaction, note the name
of the account.
Assign the appropriate tax line to each account you found:
In your chart of accounts, select the account
Click Edit Account.
Click the Type drop-down list and choose the tax line.
What if the list of tax lines is missing?
More about tax lines
After you have corrected any missing or incorrect tax line assignments,
click in the tax summary report window.
The report should reflect all the changes you made.
Prepare for end of year income