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May 29, 2024
Question

IRS Tax Payments

  • May 29, 2024
  • 2 replies
  • 0 views

How do you categorize IRS tax payments for a schedule C filer in QBO?

 

Any direction at all would be greatly appreciated. Thank you!

2 replies

May 29, 2024

I'm happy to assist you with your Schedule C, @Lulu_Top11. Let me share more information to guide you in categorizing the tax payments.

 

To categorize the tax payments, I suggest contacting the IRS to ensure clarification. They would know how to categorize the tax payments based on the rules. I'd love to share this article with you for reference on categorizing the payment made: Schedule C and expense categories in QuickBooks.

 

Moreover, I'm providing this article to help you set up bank rules to categorize your transactions automatically: Set up bank rules to categorize online banking transactions in QuickBooks Online.

 

Let me know if you still have questions about categorizing your transactions. Have a great day, and take care.

Rainflurry
June 1, 2024

@Lulu_Top11 

 

Ae you referring to your 1040 estimated tax payments?  If so, those are personal payments and should recorded to your owner's equity account and then paid personally.