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dwedeman
Level 1

How do I change tax categories from "Schedule C" to "Schedule E"?

I generate passive income from real estate; therefore, I need Schedule I categories.  Converting each transaction from Schedule C is a nightmare!
1 Comment 1
jamespaul
Moderator

How do I change tax categories from "Schedule C" to "Schedule E"?

Hello, dwedeman.

 

I'll share about the Schedule E supportability for QuickBooks Self-Employed. I'll also point the way and ensure you'll be able to convert your transactions under Schedule E. 

 

QuickBooks Self-Employed only supports Schedule C categories. However, we do have Schedule E categories in TurboTax. 

 

Since you need to report your real estate income under Schedule E, you'll want to contact TurboTax support. One of their agents will set you up and ensures that you'll be able to convert those Schedule C categories to Schedule E. 

 

You can find their contact information here: https://support.turbotax.intuit.com/contact/.

 

TurboTax has an article about Schedule E. Check it out if you need some references: https://turbotax.intuit.com/tax-tips/rental-property/what-is-a-schedule-e-irs-form/L8h73YEqU.

 

Need to take care of your estimated taxes in Self-Employed after converting to Schedule E? Check out this article for a guide: Pay federal estimated quarterly taxes in QuickBooks Self-Employed

 

If you'd like to take care of some things like reports or categorizing other transactions in Self-Employed, let me know and I'll guide you through. If you have other concerns, add them to your reply and I'll ensure to address them accordingly. 

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