How do I import my QuickBooks Online data into TurboTax Download/ desktop tax software?

It's great to see you in the QuickBooks Community, jrcp! I wish you're doing well. Let me guide you on importing your QuickBooks Online to Turbo Tax.

Currently, there is no direct method to complete this process. However, we can import your QuickBooks Online account into QuickBooks desktop, and then transfer the data to your Turbo Tax Business Desktop account.

If you don't have a QuickBooks Desktop account. We can download your data using a free trial version of QuickBooks Desktop and access the latest version and edition. 

After downloading the Desktop Version, you need to export the data to QBDT and transfer it to your Turbo Tax Business Account.

After doing so, you can check this article for the step-by-step guide on importing your Desktop data to Turbo Tax Business: How do I import QuickBooks data into TurboTax Business?

If you have any questions about importing your QuickBooks Online data to your TurboTax Business Desktop Account, feel free to reply to this thread or start a new one. Have a great day and take care!

@jrcp-jrcplegacy- 

You need to run the trial version of QB Desktop to convert data from QB Online and export your data to TurboTax Desktop. Did you encounter any issue?

Hello, Nod! I’m thrilled to see you making your first post here in the Community.

Moving QuickBooks Online data into TurboTax's desktop tax software is not limited to just TurboTax Business for Home and Business, I will provide additional details below.

If you use QuickBooks Online, there’s no need to import your info. You can do your taxes directly inside QBO, without signing into TurboTax. Here are the steps to get started with Live Tax:

1. First, log in to QuickBooks Online.
2. Navigate to Taxes, then select Year-end filing.
3. If your business type isn't already saved in your QuickBooks settings, you'll be prompted to provide it.
4. Click Continue, choose your business entity, and then Save.
5. Click on Start for free. Please note that payment is required when you e-file.

You can check this article for further details: QuickBooks Live Tax in QuickBooks Online.

However, if you are using QuickBooks Desktop and TurboTax Desktop for Windows, you can transfer some information, but not all of it. To complete your tax return, you need to enter certain expenses manually after the import process. Some of these expenses include:

• Depreciated or non-depreciated assets
• Home office expenses
• Vehicle expenses (either standard mileage or actual expenses)
• Cost of goods sold
• Charitable contributions
  • For sole proprietors, these should be reported under Schedule A for itemized deductions, not Schedule C.
• Wages paid
• Professional licenses or other taxes
  • Sole proprietors: Federal income taxes are not allowed expenses. Reports state and local income taxes under itemized deductions (Schedule A), not Schedule C.
• Meals that can be deducted at 100%, including promotional meals

Some income and expenses can't imported automatically. It's important to review and manually input any missing items.

Additionally, this feature is not compatible with Mac. Instead, Mac users can upload a .txf file to proceed.

Moreover, if you seek guidance to ensure your accounts are set up correctly, consider using QuickBooks Expert Live Assisted. This service can help streamline the setup process and effectively position your business for success.

I've also included this article about how to prepare and file your Federal and state 1099s with QuickBooks Online, which may come in handy moving forward: Create and file 1099s with QuickBooks Online.

The Community is always available 24/7. Fill me in if you need extra help in managing your home and business data or QuickBooks in general. Keep Safe!