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Assign tax lines to accounts

Why should I do this?

Why should I do this?

To do this task

  1. Go to the Lists menu and click Chart of Accounts. Shortcut

  2. Select the account.

  3. Click Account at the bottom of the list and click Edit Account.

    Account

  4. Click the Tax Line drop-down list and choose the tax line. More ...

    • If the account is not tax-related, choose .

    • If you file Form 1040, we recommend that you assign tax lines only to income and expense accounts. Although QuickBooks also lets you assign tax lines to balance sheet accounts, in many cases a balance sheet account won't report the correct total at the end of the tax year. For advice on when it's appropriate to assign a tax line to a balance sheet account, see your accountant.

    What if the Tax Line drop-down list isn't there?

    What if the Tax Line drop-down list isn't there?
  5. Click OK.

See also

KB ID# H_TAX_LINES
9/26/2016 12:02:09 AM
PPRDQSSWS407 9138 Pro 2017 a1ec6f