Can I use the profits and revenues from my first business as deductions to fund my second business?

Hello there, Julio. Let me share some information regarding this.

Instead of moving your money and using it as an expense deduction, you can transfer your funds from one business to another and then categorize it in your company file as Transfers. With this, I recommend contacting your accountant to ensure proper recording or categorizing of transactions in your account.

To learn more about categorizing transfers in and out of your bank and credit card accounts, you can access these materials:

• Transfers between accounts in QuickBooks Self-Employed
• Categorize money transfers in QuickBooks Self-Employed

Furthermore, you can also run a report and download it. This way, you can use it outside QuickBooks.

I'm still here to help if you have more questions about transfers or any QuickBooks-related concerns.

@julio-jpnphealth 

Do not take the advice from QB employees when it comes to your question.  Call your CPA.  The proper handling of this depends on what type of tax classification each business is.