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15392: Data Imported to Drake Tax from QuickBooks


File Maintenance Generally

What items can be imported into Drake Tax from QuickBooks? 

 

The following chart shows what items for each supported package can be imported. Be sure to verify all imported amounts in Drake Tax after the import has been completed. For steps on creating the export in QuickBooks and importing the data into Drake Tax, see Related Links below.

1040 Import Items 1120 Import Items 1120-S Import Items
Income Income Income
Net social security benefits received Gross receipts or sales Gross receipts or sales
Returns and allowances Returns and allowances
Schedule A Interest income Other
Other medical and dental expenses Gross rents
Income taxes Gross royalties Deductions
Real estate Other income Accounting
Personal property Advertising
Other Deductions Automobile and truck expense
Home mortgage (1098) Accounting Bad debts
Home mortgage (not on 1098) Advertising Bank charges
Cash charity contribution Automobile and truck expense Commissions
Noncash charity contribution Bad debts Credit and collection costs
Tax preparation fees Bank charges Depletion
Miscellaneous subject to 2% AGI limit Commissions Discounts
Miscellaneous no 2% AGI limit Contributions Dues and subscriptions
Credit and collection costs Education and training
Schedule C Depletion Employee benefit programs
Gross receipts/sales Discounts Gifts
Returns and allowances Dues and subscriptions Independent contractor
Other income Education and training Insurance
Advertising Employee benefit programs Interest expense
Car and truck expenses Gifts Janitorial
Commissions Independent contractor Laundry and cleaning
Depletion Insurance Legal and professional
Employee benefits Interest expense Meals and entertainment
Insurance Janitorial Miscellaneous
Interest (mortgage) Laundry and cleaning Office expense
Interest (other) Legal and professional Officer compensation - non-shareholders
Legal and professional services Meals and entertainment Officer compensation - shareholders
Office expense Miscellaneous Parking fees and tolls
Pensions Officer compensation Pension plans
Rent – vehicle/machinery Office expense Postage/shipping
Rent – other Parking fees and tolls Printing
Repairs/maintenance Pension plans Rents
Supplies Postage/shipping Repairs and maintenance
Taxes and licenses Printing Salaries and wages
Travel Rents Security
Meals and entertainment Repairs and maintenance Supplies
Utilities Salaries and wages St/City income taxes
Wages Security Local property taxes
Other expenses Supplies Payroll taxes
Purchases less personal St/City income taxes Other miscellaneous taxes
Cost of labor Local property taxes Licenses
Materials and supplies Payroll taxes Telephone
Other costs Other miscellaneous taxes Tools
Licenses Travel
Schedule E Telephone Utilities
Rent income Tools Other
Royalty income Travel
Utilities Form 1125-A
Schedule F Other Purchases
Sales of livestock/items Cost of labor
Cost of resale livestock/items Form 1125-A Additional section 263A costs
Sales of livestock/product raised Purchases Other costs
Co-op. distributions Cost of labor
Agricultural program payments Additional section 263A costs Schedule K
CCC loans reported Other costs Interest income
CCC loans forfeited Total ordinary dividends
Crop insurance received Schedule C Royalty income
Crop insurance deferred Dividends-< 20% owned corporations Other portfolio
Custom hire Dividends-20% or > corporations All other income items
Other income Dividends-debt-financed stock Investment interest expense
Car and truck expenses Dividends-< 20% preferred stock All other deductions
Chemicals Dividends-20% or > preferred stock Federal tax exempt interest
Conservation expenses Dividends-< 20% foreign corporations State tax exempt interest
Custom hire expenses Dividends-20% or > foreign corporations Other nondeductible expenses
Employee benefit Dividends-wholly owned foreign Total foreign taxes
Feed Dividends-domestic corporations Reduction in taxes available for credit
Fertilizers and lime Dividends-from certain FSC's
Freight and trucking Dividends-affiliated group members Schedule L
Gasoline, fuel, oil Other dividends-foreign corporations Cash
Insurance Income from controlled foreign corporations Trade notes & accounts receivable
Interest – mortgage Foreign dividend gross up Allowance for bad debts
Interest – other IC-DISC and former DISC dividends U.S. government securities
Labor hired Other dividends Tax-exempt securities
Pension/profit sharing Deduction-dividend paid on preferred stock Loans to shareholders
Rent – vehicles & machinery Mortgage & real estate loans
Rent – other Schedule L – Balance Sheets Depreciable assets
Repairs and maintenance Cash Accumulated depreciation
Seeds and plants Trade notes & accounts receivable Depletable assets
Storage and warehousing Allowance for bad debts Accumulated depletion
Supplies U.S. government securities Land
Taxes Tax-exempt securities Intangible assets
Utilities Loans to shareholders Accumulated amortization
Vet fees and medicine Mortgage & real estate loans Accounts payable
Other expenses Depreciable assets Payables less than 1 year
Accumulated depreciation Loans from shareholders
Schedule H Land Payables more than 1 year
Total cash wages paid Intangible assets Capital stock – preferred
Federal tax withheld Accumulated amortization Paid-in or capital surplus
Accounts payable Less cost of treasury stock
Form 4835 Payables less than 1 year
Product income Loans from shareholders Schedule M-1
Total co-op distributions Payables more than 1 year Expenses on books not on return
Agricultural program payments Capital stock – preferred Income on books not on return
CCC loans reported Common
CCC loans forfeited Paid-in or capital surplus Form 8825
Crop insurance total Less cost of treasury stock Gross rents
Crop insurance taxable amount Advertising
Other income Schedule M-1 Auto and travel
Car and truck Expenses on books not on return Cleaning and maintenance
Chemicals Income on books not on return Commissions
Conservation Insurance
Custom hire Schedule M-2 Legal and Professional fees
Employee benefit Other increases Interest expense
Feed Cash distributions Repairs
Fertilizer or lime Stock distributions Taxes
Freight or trucking Property distributions Utilities
Gas, fuel, oil Other decreases Wages and salaries
Insurance Other
Interest – mortgage Tax Payments Income-other rental real estate
Interest – other Estimated Quarterly Payment #1 -
Labor hired Estimated Quarterly Payment #2 -
Pension and profit sharing Estimated Quarterly Payment #3 -
Rent – equipment Estimated Quarterly Payment #4 -
Rent – other - -
Repairs/maintenance - -
Seeds or plants - -
Storage - -
Supplies - -
Taxes - -
Utilities - -
Veterinary - -
Other expenses - -
- -
Form 8829 - -
Deductible mortgage interest - -
Real estate taxes - -
Insurance - -
Repairs and maintenance - -
Utilities - -
Other expenses - -
- -
Form 8839 - -
Qualified adoption expense (adoption fees, court costs, attorney fees) - -


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