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Generating Quarterly Income Tax Returns for Individuals (1701Q)
Generating Quarterly Income Tax Returns for Individuals (1701Q)

This tutorial will help you in generating annual income tax returns (1701 forms).

Kaye Estanislao avatar
Written by Kaye Estanislao
Updated over a week ago

BIR Form 1701Q, also known as Quarterly Income Tax Return For Self-Employed Individuals, Estates and Trusts (Including those with both Business and Compensation Income) is a tax return intended for professionals and self-employed individuals who are engaged in a sole proprietorship business.

Follow these steps in adding your 1701Q (Quarterly Income Tax Return) report in JuanTax

I. During Setup (Important)

Make sure that you had classified your organization as an Individual during the setup. 

 

II. Generating 1701Q Reports

Step 1: Go to your dashboard > Income Tax Return> Choose the 1701Q tab then click the Generate Report (+) to continue

 

This dialogue box will appear, click “Accept and Continue”

Step 2: Select the year, as well as the appropriate quarter for the return > Click Generate button.

 

 

 

III. Tax Rate Option

Step 1: Choose between (1) Graduated Rates per Tax Table 

(2) 8% on gross sales/receipts and other non-operating income

 

Step 2: You will see this dialog box. Click Save to continue.

 

Step 3: Go back to input summary 

 

IV. Exploring Input Summary

After generating your report, you’ll be prompted to the Input Summary page.

The Input Summary page contains the exact information included in an actual quarterly income tax form. That is why you need to go through all of the sections to successfully file your return.

Note: You need to fill out the Background Information section in order for you to proceed with other sections of the form.

 

 

A. Background Information

a1. Date of Birth

Enter your date of birth, as included within line 11 of your 1701Q form.

 

 

 

 

a2. Filer Type

You need to choose the appropriate file type between the following radio buttons: (1) Single Proprietor, (2) Professional, (3) Estate and (4) Trust. Click the Save button to continue. 

 

 

 

 

 

 

a3. Alphanumeric Tax Code (ATC)

Step 1: Choose the appropriate alphanumeric tax code (ATC): 

(1) Business Income

(2) Income from Profession 

(3) Mixed-Income

Step 2: Click the Save button to continue.

 

a4. Civil Status

Step 1: Confirm your civil status by choosing between: 

(1) Single 

(2) Married

Step 1A: If married, populate sections such as Spouse’s Employment Status as well as Spouse’s Information. For your Spouse’s Employment Status, confirm if your spouse is either:

(1) Employed 

(2) Unemployed 

Step 2: Click Save button to continue > Go back to input summary 

 

 

 

 

 

 

 

 

 

 

 

a5. Other information

After finishing Background Information, all the other sections of the form will now be available for you to access. Go back to the input summary page by clicking the Back to Input Summary button. 

 

b. Sales / Revenues / Receipts / Fees

In this section, you need to enter the transactions (e.g. Sales, Revenues, etc.) which are needed for your quarterly income tax return. 

Step 1: Click the Add Transaction button to continue.

Note: Aside from adding a transaction you can add sales too. There are also options for you to edit, remove, search and refine search per page.

Step 2: Add transactions or Add Sales 

 

b1. Adding Transactions

 

Step 1: Click on the “+” button then populate fields with the appropriate information. 

Note: You can always add another line for transactions by clicking the +Add Line button

Step 2: Save Changes

 

b2. Adding Sales 

Step 1: Click on the “((+)” button then populate the fields with the appropriate information

Step 2: Save > Go back to input summary 

 

 

c. Non-Operating Income

This includes income of the Taxpayer/Filer which comes from anything other than its ordinary operations, as mentioned in lines 43A and 43B of 1701Q form. This will be added to Gross Income from Operation in order to get the Total Gross Income for this quarter (line 32A and 32B). 

Step 1: Click the Add Transaction > Continue

Note: Aside from adding the report, there are also options for you to edit, remove, search and refine search per page.

Step 2: Populate fields with the appropriate information. 

Note: You can always add another line for transactions by clicking the +Add Transaction button.

Step 3: Save Changes > Go back to Input Summary

 

d.  Prior Years' Excess Credits

Step 1: Click on the Add Transaction button (+ icon) to start adding amounts

Note: Aside from adding the report, there are also options for you to edit, remove, search and refine search per page.

Step 2: Populate fields with the appropriate information > Save Changes 

Note: You can always add another line for transactions by clicking the +Add Transaction button.

Step 3: Save Changes > Go back to Input Summary

g. Creditable Tax Withheld Per BIR Form No. 2307 for this Quarter

This section contains a list of all creditable tax withheld transactions for the whole quarter included in your BIR Form 2307, which shows income subjected to expanded withholding tax paid by the taxpayer. 

Step 1: Click on the Add Transaction button (+ icon) to start adding amounts

Note: Aside from adding the report, there are also options for you to remove, search and refine search per page.

 

Step 2: You need to create 2307 transactions for it to appear within this section of the report

 

Step 3: Go to Dashboard > Tax Forms> Creditable Certificate > 2307 Certificate tab

 

Step 4: Add or import transactions 

You can either create transactions manually or importing transactions in an instant. 

If you choose to manually create transactions, Click the Add Transaction button (+ icon), or click the Create Transaction(s) button

Step 5: Populate fields > Click Save

 

 

 

Step 6: Go back to 1701Q form, add transaction then the record will appear in the creditable tax withheld section of your 1701Q return. Check the box of the transaction > Apply

 

h. Foreign Tax Credits

This includes the income of the Taxpayer/Filer which comes from anything other than its ordinary operations, as mentioned in lines 60A and 60B of 1701Q form. This will be added to Gross Income from Operation in order to get the Total Gross Income for this quarter (lines 32A and 32B).

Step 1: Click on the Add Transaction button (+ icon) to start adding amounts

Note: Aside from adding the report, there are also options for you to edit, remove, search and refine search per page.

 

 

 

 

 

 

 

 

 

 

 

 

 

Step 2: Populate fields with the appropriate information > Save Changes button. Note: You can always add another line for transactions by clicking the +Add Transaction button.

 

i. Other Tax Credits/Payments

This includes the income of the Taxpayer/Filer which comes from anything other than its ordinary operations, as mentioned in lines 61A and 61B of 1701Q form. This will be added to Gross Income from Operation in order to get the Total Gross Income for this quarter (lines 32A and 32B).

Step 1: Click on the Add Transaction button (plus icon) to start adding amounts.

Note: Aside from adding the report, there are also options for you to edit, remove, search and refine search per page.

Step 2: Populate fields with the appropriate information > Save Changes button. 

Note: You can always add another line for transactions by clicking the +Add Transaction button.

 

j. Penalties

Data in this section can be generated manually or automatically. To manually generate data, type the penalties for surcharge, interest, and compromise. 

Step 1: Click the Compute Penalty button to compute penalties for this report > Click Save Changes button to update your changes

 

k. Taxpayer / Authorized Representative / Accredited Tax Agent

Step 1: For your authorized representative, you need to populate fields > Save

 

V. Preview of the Report

You can also access a preview of the actual report by clicking on the Report tab next to Input Summary.

 

VI. Notes and Activity

To see the audit trail of activities made within the report, all you need to do is to click the Notes & Activity tab.

 

VII. Filing the Report

Simply file your report by following the guidelines mentioned in this article through our Help site.

 

VIII. Paying 1701Q Returns

Follow the steps in this article for you be to able to pay your filed tax return in JuanTax.





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