Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Returning Member
posted Mar 29, 2022 10:28:33 PM

Hey, I put money into my business from my personal funds to keep things operational. What does that get categorized as in the business software tool?

0 2 1336
2 Replies
Expert Alumni
Mar 30, 2022 4:30:04 AM

If you have a sole proprietorship, you and your business are one and the same. You do not indicate this anywhere. If you have a more formal business setup, it is a Balance sheet entry, a liability, which you will pay back

Returning Member
Mar 30, 2022 7:21:14 AM

Thanks for your reply. I have a C Corporation. I skipped over the balance sheet part in the software. I'll go back and submit it.