Hi Homies544.
While QuickBooks Self-Employed (QBSE) primarily focuses on Schedule C business income and expenses, you can categorize retirement income as Personal to ensure it's excluded from your business reports and not taxed as self-employment income.
Here's how:
- Go to the Transactions section.
- Click the Add transaction button.
- Enter the necessary details.
- Select Personal withdrawal as the category.
- Click Save to complete the process.
If you're using TurboTax, you can export the data and manually record the income from there.
Don't hesitate to reply here if you need additional assistance.