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H
helenacuellar-ya
November 5, 2023
Question

How I enter passive income like real estate rentals in quickbooks ?

  • November 5, 2023
  • 1 reply
  • 0 views
I got self- employed quick boo but only talks about schedule C and does not talk schedule E

1 reply

C
ChristieAnn 11
November 5, 2023

Thank you for visiting the QuickBooks Community, helenacuellar-ya. Let me share details on how QuickBooks Self-Employed works. I'll also ensure you can record passive income like real estate rentals by pointing you to the right support team.  

 

Please keep in mind that QuickBooks Self-Employed only supports Schedule C categories. If you want to enter the income mentioned above on this form, I recommend speaking with an accountant. They can provide suggestions on how to properly handle the transactions to ensure your data is in shipshape. 

 

Then, you can open this article to see various details on how to organize Schedule C in QBSE: Schedule C and expense categories in QuickBooks Self-Employed.

 

However, if you need to handle your estate rentals under Schedule E, we do have this category in TurboTax. You'll want to contact their Support Team. One of their representatives will set you up and ensure that you can enter entries under Schedule E. 

 

Moreover, TurboTax has an article about Schedule E. Check it out if you need some references: https://turbotax.intuit.com/tax-tips/rental-property/what-is-a-schedule-e-irs-form/L8h73YEqU.

 

Lastly, you can open this article if you need steps on how you can manage tax payments in QBSE: Pay federal estimated quarterly taxes in QuickBooks Self-Employed.

 

Let me know if you'd like to take care of reports or categorize other transactions in Self-Employed, I'll guide you through. I'm always around to help, helenacuellar-ya. Have a great day!

H
helenacuellar-yaAuthor
November 5, 2023

Please clarify the Quickbooks does not have a producto for rental properties income ?

JessT
JessT
November 5, 2023

Hi helenacuellar,

 

Our QuickBooks products are designed to be versatile and can be used by businesses of all sizes and industries. Whether you're a freelancer, a small startup, or a large corporation, QuickBooks can help you efficiently manage your finances.

 

Feel free to check the features of our QuickBooks Online products, so you can choose one for your rental property business. However, our QBSE product may not be suitable for your specific business needs.

 

To better assist you in choosing the right product, it would be helpful if you could share a bit about your unique processes and requirements. This will give us a better understanding of your business and allow us to recommend the most suitable QuickBooks product for you.

 

I'm just right here if you have other questions in mind. Take care and have a good one!

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