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Level 1

QB for tracking K-1 partner distributions

First, I apologize if this question has been answered, or is widly basic. I searched for a solution w/o success.

 

I am a partner at a firm and receive a K-1. It's a very large partnership, so it often feels like any other large corporation, i.e. expense reimbursement for travel, etc. 

 

I'd like to know if QB is useful for owners in very large partnerships? My spouse is opening a small business, which is when I see QB being necessary. However, ideally we would like to track our family income in QB and move everything to TurboTax for filing. Does QB have value for tracking partnership draws I receive, or is it an unnecessary step? 

Solved
Best answer 09-05-2017

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Community Champion

QB for tracking K-1 partner distributions

You can use qbo for personal.  I have a client that does do that.  It is set up for business, but you can modify it. 

 

Maybe a better choice is  Intuit's mint program.  That is designed more for personal use.

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2 Comments
Highlighted
Community Champion

QB for tracking K-1 partner distributions

You can use qbo for personal.  I have a client that does do that.  It is set up for business, but you can modify it. 

 

Maybe a better choice is  Intuit's mint program.  That is designed more for personal use.

View solution in original post

Highlighted
Level 7

QB for tracking K-1 partner distributions

You should have 2 subscriptions. One for business & one for personal.

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