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djdallas13
March 3, 2020
Question

Marking Income that you will get a T4A for in Quickbooks.

  • March 3, 2020
  • 1 reply
  • 0 views

Hey team, 

 

I'm a musician and music teacher. I've been trying to get my accounting and tax game in order and I am pretty new to it still so forgive me if this question is silly. I work as a teacher contractor at two music studios and I get paid for that monthly. At the end of the year I will get T4A slips from the studios with the total amount I have made. I also gig in addition to the teaching and receive money that way.  Should I mark my teaching pay any different in quickbooks because I am getting a T4A? Or does it all add up to business income and when I export it to turbotax with my T4A slips it'll understand and not duplicate my income from teaching? 

 

Thanks everyone! 

1 reply

L
LauraAB
March 3, 2020

Hello djdallas13,

 

I love that you're sharing music as both a musician and a teacher! I appreciate that you've chosen QuickBooks to help manage your income and expenses. I know it's important to be able to accurately record those transactions, so I want to make sure you have the information you need. I'll point you in the right direction.

 

The best resource for knowing how to properly manage your income is an accountant or bookkeeper. While I can guide you with figuring out how QuickBooks Self-Employed works, when it comes to knowing how to properly record transactions for proper filing, I leave that to the professionals.

 

Occasionally, accountant users leave their thoughts in community, so keep an eye out for responses on this thread. However, don't hesitate to reach out elsewhere to make sure you get this taken care of in a timely manner or to verify the advice of other users.

 

As for the options in getting your data from QuickBooks Self-Employed to TurboTax, I recommend getting in touch with the QuickBooks Self-Employed team directly or with TurboTax to learn if that's available and how it would be done. If you'd like to contact Self-Employed support, here's how to do it while using a browser.

  1. Select the Assistant tool.
  2. Type "Talk to human."
  3. Follow the prompts to reach an agent.

Visit the following page to see how to reach TurboTax support: Contact TurboTax

 

I hope that helps! Have a great rest of your day.

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