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Join nowHi there, @linman415.
I want to make sure you're able to separate the freelance job and Airbnb property into QuickBooks Self-Employed. You'll need to categorize the expense accounts so that both of them can get tax deductions. I'd suggest consulting your accountant to help you determine the appropriate expense accounts. Once verified, perform the steps below.
To learn more about different account appears on various reports in QBSE, check out this article: Schedule C Categories breakdown.
Please browse this article: Pay Federal Estimated Quarterly Taxes. This link guides you on how to pay your estimated taxes via mail or online.
Don't hesitate to leave a comment below if there's anything else I can do for you. Have a good day!
Hi Michelle,
Thank you for the prompt response. Mine looks a little bit different than what you have shown, instead of "CATEGORY AND TRANSACTION", mine is shown as "CATEGORY". Also could you please clarify want do you mean by "Choose the appropriate account"? I was able to categorize the transactions, however not to separate the expenses from Airbnb to my other expenses.
An example would be to allocate different proportions of utilities cost to Airbnb and home office. Is it sufficient to simply assign it to "utilities" versus "utilities - home office" categories? And how about categories such as "advertisement" that don't separate from the business to the rental property?
Please check this article for addition information provide above and what are the transactions automatically categorize as home office expenses: Schedule C: Home office expenses.
Please know that you're always welcome to post if you have any other concerns. Wishing you and your business continued success.
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