Which category to use in my business bank account for a transaction used to reimbursed myself for federal taxes paid from my personal credit union account?

Recording federal taxes under the correct account and category is essential, and I'm here to lead you through the process, gail823802.

There are a few transfer categories in the program used when moving money between your business or personal accounts. You may choose from the following:

• Owner's Deposit for adding personal money to your self-employment finances
• Owner's Withdrawal is when you take money out of your self-employment finances for personal use
• Credit Card Payment is only for credit card payments that are not business expenses since you're not buying anything

See this reference for more information: Categorize money transfers in QuickBooks Self-Employed.

Since you utilized your personal credit union account to pay federal taxes, you may transfer it accordingly. Although the Federal Tax is usually tagged as Business, manually change the reimbursement to Personal.

Moreover, I highly recommend consulting an accountant to ensure the transactions are in the correct category. They can also share other ways to classify them accurately based on your situation.

To learn different ways to pay federal estimated quarterly tax, refer to this article: Pay federal estimated quarterly taxes in QuickBooks Self-Employed.

Save this reference for your guidance in categorizing transactions: Schedule C and expense categories in QuickBooks Solopreneur and QuickBooks Self-Employed.

Let me know if there's anything else I can help you with handling taxes. It'll be my pleasure to provide more details. Stay safe.