Tax Line in QuickBooks

Sometimes what seems like a simple question isn't.

All income/expenses are reported, end of year, on tax forms. The tax line refers to where, on the forms you file, the transactions in the account are to be placed. The Income Tax Preparation report shows every account, its type, and what tax line is associated with it.

If you completed the interview when you installed the software, you should have a pretty complete list of accounts, pre-filled with the appropriate tax lines.

When I became 'bookkeeper' to my husbands new business, I immediately contacted a qualified accountant who looked over the chart of accounts provided by QuickBooks. She made some additions and changes, and also gave me an idea of what types of transactions go into which accounts. The session was invaluable to me, and I highly recommend you do the same.

Good advice. I'd add that the OP take a quick online accounting fundamentals course. Usually offered through local technical college websites and companies like Gatlin or Ed2Go.com

The latter has AF courses that cost about $119 for 12-15 lessons, done at the student's pace, online. They'll give the OP a better understanding of bookkeeping/accounting so they can better understand how to use the software.