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jeta
Returning Member

Common Business expenses $110 - where does this come from?

TT Business filing as C corp.

Common business expenses has $110 prefilled even when no expenses are entered. Tried to update and can't find any amounts but when i am done with the update the $110 is still there.

Looks like this may be the Turbotax purchase price. However i paid a slightly different amount for TT purchase.

Please explain what this is and what needs to be done to account for it.

1 Best answer

Accepted Solutions
ThomasM125
Employee Tax Expert

Common Business expenses $110 - where does this come from?

I'm not sure what the amount represents, but you can change or delete it if necessary. Use the Forms menu option on your menu bar, then find the expense, probably on line 26 Other Deductions, and edit it as is necessary.

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2 Replies
ThomasM125
Employee Tax Expert

Common Business expenses $110 - where does this come from?

I'm not sure what the amount represents, but you can change or delete it if necessary. Use the Forms menu option on your menu bar, then find the expense, probably on line 26 Other Deductions, and edit it as is necessary.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

jeta
Returning Member

Common Business expenses $110 - where does this come from?

Thanks Thomas. Your solution of viewing the form showed that it is Amortization.

I think it wouldn't have caused confusion if it was with Depreciation instead of Common business expense.

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