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greengoose13
Level 1

Is there a way to report earned dividends from stocks through this program?

 
1 Comment 1
jamespaul
Moderator

Is there a way to report earned dividends from stocks through this program?

Hello, greengoose13.

 

I'll point you to the right direction and help you record the dividends earned from stocks. 

 

Just a quick note, QuickBooks Self-Employed (QBSE) is designed to record and report the income and expenses of an individual's business. The program also follows the Schedule C expense categories. That said, you can add and report the earned dividends in QBSE as an income.

 

Here's how: 

 

  1. Go to the Transactions menu.
  2. Hit the Add transactions button. 
  3. Enter the total amount for the dividends earned under Amount.
  4. Add a description for the transaction. You can enter something like "Dividends earned from stock" or similar. 
  5. Click the Select a category link, then search for Income
  6. Add a note if necessary.
  7. Once done, click Save

Here's an example: 

 

QBSEADDTRANS.PNG

 

If you connected a bank account, then you'll just want to categorize and approve the transaction straight away. You can also check these articles to help you record transactions:

 

 

Though, it would be best to consult an accountant or a tax adviser. They can give more ideas on how a dividend from stock is reported, and check the tax implications for this. 

 

If your business is solely centered around investing on stocks, you might want to try Mint. It's one of our products that can help you track your investments and view your portfolio. Click here to learn more about it. 

 

You can check this article for more details about how income and deductions are reported and calculated for tax payments: How we calculate estimated tax payments.

 

When you're ready to pay your quarterly estimated taxes, you can read this article for a guide: Pay Federal Estimated Quarterly Taxes.

 

I'd be more than happy to show you how to record and categorize other transactions. Just leave a comment below. I'm also open to answer any future questions you might have for QBSE. 

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