Importing your QuickBooks data into TurboTax Business
Importing your information from QuickBooks saves time and minimizes data entry errors. However, please note that:
- TurboTax Business 2012 only imports from CD/Download software versions of QuickBooks 2007–2013.
- TurboTax Business will not import from QuickBooks Online.
- TurboTax Business 2012 will not import data if QuickBooks is running in Multi-Instance mode.
Before you import
Refer to the following checklist for additional requirements:
- QuickBooks must be installed on the same computer and the same drive that TurboTax is installed on.
- Likewise, the data file to import from should be on your local drive, not on the network.
- Make sure you've entered all your financial information into QuickBooks before importing your file.
- If you need to set up your tax line assignments, click here for instructions.
- QuickBooks must be registered. Click here for instructions.
- QuickBooks must be in single-user mode. Click here for instructions.
- Make sure the QuickBooks company file (.qbw extension) that you want to import from has been opened at least once on the computer you're using to prepare your tax return.
- Unlike prior-year tax versions, you no longer have to leave the company file open when importing into TurboTax Business 2011 or later.
How to import
- Open your return in TurboTax Business.
- On the Business Info tab in TurboTax, click QuickBooks right below it.
- Follow the on-screen instructions to finish importing your data.
If you're having problems importing in Windows Vista, turn User Account Control on. Click here for Microsoft instructions.
I see my company in the QuickBooks files list; why won't it import?
There are two reasons why this could be happening.
- The business entity you selected in TurboTax doesn't match the type of business you selected in QuickBooks.
- You may not have assigned tax lines to your accounts in QuickBooks. For help with tax lines, try searching for Assign Tax Lines in your QuickBooks in-product Help, or visit the QuickBooks Support site.
Why don't my expenses and Balance Sheet data appear when I select "Review QuickBooks"?
When information is missing from your review, it's probably because tax lines weren't assigned to your accounts in QuickBooks. In order for TurboTax to import your information, tax lines need to be assigned to all of your accounts. For help with tax lines, try searching for Assign Tax Lines in your QuickBooks in-product Help, or visit the QuickBooks Support site.
Why didn't any of my asset information import from QuickBooks?
Individual asset information does not import from QuickBooks to TurboTax. You will need to enter this information manually.