Use this window to select how your company is organized for tax purposes. QuickBooks will use your
selection to associate each income and expense account with the appropriate tax form lines on your
income tax return, so it's easier for you or your accountant to prepare your company's income tax statement.
What if I don't know which organization is correct for my business?
See Choosing a business type (New Business Checklist) for
issues you should consider before you select your organization (also called a business entity). You can also read
descriptions of the most common types of organizations.
Why does QuickBooks use tax form lines?
By associating a tax form line with each income and expense account, you can easily:
Import tax data into our TurboTax or ProSeries tax products.
Create tax reports in QuickBooks that help you prepare tax forms. The reports show the amounts to fill in
for each tax line on the tax forms.
See Using tax lines for accounts for more information
about how and why tax lines are used and how they benefit you.
If I add income and expense accounts in the future, can I assign tax form lines to them?
Yes! In just a few steps you can assign tax lines to new accounts.