When entering the tax-line mapping can I just enter it for the main account when all sub-accounts map to the same tax line?

elaineremez · ‎December 10, 2018

I am entering the tax-line mapping for importing into turbotax for business to generate 1065's and K-1s.

Can I enter the tax-line mapping for a main account and not the sub-accounts if they are all mapped to the same tax-line?

Or do I enter tax-line mapping for the sub-accounts and not the main account or do I enter both?

There are cases where the sub accounts map to several tax-lines, so. In those cases am I correct not entering a tax-line mapping for the main account?

qbteachmt · ‎December 10, 2018

"Are you saying to only enter tax-line mappings for the sub-accounts?"

You map what you used, if you need it to Export. Remember, this is not Tax Prep; you are buying into an Integrated Marketing Hype that there is a Direct feed. You still need to use TT to Fix things.

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qbteachmt · ‎December 10, 2018

Every account is its Own Account. Organizing them under Parent Levels = makes the reporting easier to read, rolls Up the totals for reporting, and allows you to Expand and Collapse the reporting.

"In those cases am I correct not entering a tax-line mapping for the main account?"

Your reports should reveal if you ever posted to the Parent, which is a typical Error. Once you have that structure, you post only to Subaccounts. Otherwise, you see this:

Insurance <== Parent

General Liab <== subaccount

Worker Comp <== subaccount

Insurance - Other <== error in the entry

elaineremez · ‎December 10, 2018

Are you saying to only enter tax-line mappings for the sub-accounts?

When entering the tax-line mapping can I just enter it for the main account when all sub-accounts map to the same tax line?

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