Can I use QBSE + TurboxTax bundle to do freelance and W2 taxes?

couto558 · ‎September 11, 2023

Hello all. I know it's a bit early to start worrying about this but I wanted to make sure I'm well educated on the matter.

Long story short, I've been using the QBSE (Quickbooks Self Employed) + Turbotax bundle for a few years now to help with my freelance taxes and bookkeeping. It's been an amazing tool! Now, I have a W2 job while still doing freelance. I use QBSE solely for freelance stuff; none of my W2 stuff gets recorded there.

That being said, when tax season does roll around, can I use TurboTax to pay both my freelance taxes and W2 taxes even though I originally got it bundled with QBSE? For 2022, I was able to add W2 stuff in addition to my freelance stuff, but that was after I amended my original return because I screwed up on my taxes. So I'm not sure if that's a factor.

I just want to make sure I fully understand how Turbotax can be used based on my current subscription. Also, when using Turbotax, I noticed there was a new screen that asks me where I want to go: Personal taxes or Business taxes. I've been using Personal this whole time, I'm pretty sure, and I've never seen this option screen before. Do I have to select something different now? Would that factor into how I do my taxes?

Sorry for the long post but any help would be greatly appreciated!

Thanks!

Mich_S · ‎September 11, 2023

Yes, you can use the QBSE + TurboTax bundle to do both freelance and W2 taxes, @couto558.

QBSE can help you track your freelance income and expenses, while TurboTax Self-Employed can help you file your taxes as a self-employed individual, including W-2 earnings. See this comparison for more details:

QuickBooks Self-Employed lets you:

Easily separate your business and personal income and expenses
Get your federal estimated quarterly tax payments calculated automatically
Maximize your deductions with Schedule C categorization

TurboTax Self-Employed lets you:

Make online payments for federal estimated quarterly taxes
File faster since you can export your Schedule C directly to TurboTax
E-file one state and one federal return without filing fees

To learn more about what you get with the Tax Bundle, read this article: Upgrade to the QuickBooks Self-Employed and TurboTax Self-Employed bundle.

Moreover, I recommend getting in touch with your accountant or tax advisor about allocating your transactions to either Personal or Business. They can also help you keep your taxes and books in order.

Everything you need to about managing taxes including how QBSE calculates your taxes and what you'll need to do with a tax return can be found in the following articles:

I'll be right here to keep helping if you need additional assistance in managing your accounts. Take good care.

couto558 · ‎September 12, 2023

Thank you so much!

Right now, I have the QuickBooks Self-Employed Live Tax Bundle. It doesn't tell me to upgrade to anything else. It does ask to downgrade to QuickBooks Self-Employed Tax Bundle, which I don't want. So I assume I'm all good there. As long as I can do both W2 and freelance taxes in this one place, then I'm set.

In terms of the "Personal or Business" choices, I wasn't referring to how to allocate my transactions in QBSE. I already take care of that. I'm talking about a screen that comes up in TurboTax. I'll add it here:

I've never seen this screen before. Perhaps this is a question for Turbotax?

Thanks!

Mich_S · ‎September 12, 2023

You're most welcome, @couto558. I'm glad that you're able to manage both personal and business transactions in QuickBooks Online Self-Employed successfully. And appreciate you for clarifying things out.

The page on the screenshot you provided is TurboTax's login screen. Please check out the screenshot below for the comparison:

If you have further questions about their login page and how it works, feel free to get in touch with our Intuit TurboTax Support Team. Let me point you in the right direction to reach them:

1. Log on to this direct link: https://turbotax.intuit.com/personal-taxes/self-employment-taxes/.

2. Navigate to the Support tab.

3. Select a topic you need help with.

For future use, browse this guide so you can continue using your subscription in case it's ending soon: What to do before your QuickBooks Self-Employed subscription from TurboTax Self-Employed expires.

I'm just around the corner to help in case you have any other concerns about transferring QBSE data to TurboTax. I'd be happy to provide additional help. Have a good day ahead and take care.

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Can I use QBSE + TurboxTax bundle to do freelance and W2 taxes?