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Mar 12, 2019 1:31 AM UTC
Question

How do I record income tax owing?

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3 replies

Mar 12, 2019 1:31 AM UTC

Hello, Larry.davey!

You can set up a liability account to keep track of income tax you owe to the government. For specifics on which accounts to use when recording the liability, I recommend consulting an accountant.

You may also find this answer by one of our AllStars insightful. It's in response to a question about recording income tax paid for a sole proprietorship.

https://community.intuit.com/replies/2928338

I hope you have a great day!

Sharon

Mar 12, 2019 1:31 AM UTC
I have paid my personal income tax but I'm unsure of what account it should be entered in.  This is in my personal quickbooks account not a business