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Print income tax reports to verify tax tracking

If you import your QuickBooks data into Intuit's TurboTax Business tax preparation product, or your accountant imports your data to Intuit's ProSeries tax preparation product, the Income Tax reports will help with the preliminary tasks of verifying your tax line assignments and the amounts QuickBooks tracked for each tax line.

Tax Line Assignments

To track income tax-related transactions in QuickBooks, each tax-related account must have a tax line assignment. The accuracy of the tax reports depends on whether each tax-related account has the right tax line assignment. Tax line assignments include Balance Sheet accounts for business tax products. When you create a new Balance Sheet account, the tax line assignment will be prefilled for you based on the type of Balance Sheet account you're creating.

Income Tax Preparation Report

This report shows the tax line assigned to each account in your chart of accounts. Be sure to review these tax line assignments, and edit if necessary, before generating the income tax summary or income tax detail report. More ...

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Income Tax Summary Report

This report helps you gather data for your federal income tax forms. The report shows the amount QuickBooks tracked for each tax line on the tax forms that your company files with the federal government. The tax lines are assigned to individual accounts in your chart of accounts. Initially, the report covers the current tax year. You can change the period covered by choosing a different date range from the Dates list. To see how QuickBooks calculated an amount, double-click the amount. More ...

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Change the associated tax line for a tax-related account

To do this task

  1. Go to the Company menu and click Chart of Accounts.

  2. Right-click the account and choose Edit Account.

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

    What if the list of tax lines is missing?

    What if the list of tax lines is missing?
  4. Click OK.

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