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dancar29
New Member

I want to report my business income/expenses. I am in the self-employed tab, but I have a single owner LLC. Should I report this elsewhere or is this the right location?

 
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PatriciaR
New Member

I want to report my business income/expenses. I am in the self-employed tab, but I have a single owner LLC. Should I report this elsewhere or is this the right location?

Yes, you are in the correct location.  See the following info for TurboTax Self-Employed:

If you run a small business as an independent contractor, freelancer, single-member LLC, or you own a farm, TurboTax Self-Employed is right for you!

Whether you recently began consulting, started a business or have owned one for decades, TurboTax Self-Employed gives you the power to file your taxes with confidence. It covers everything for your personal return (if you have W-2)  along with the forms, schedules, and guidance you need to ensure your self-employed taxes are done right the first time.

This year, we’re including a 1-year subscription to QuickBooks Self-Employed to track business expenses like mileage, phone and supplies so you can easily import these deductions when tax time rolls around next year. That way you can be sure you’re getting all the business credits and deductions you’re entitled to year after year.

Steps to enter Business Income and Expenses:

  • Sign into your account and click Take me to my return
  • In the Search box (upper right of program) search "schedule c"
  • TurboTax will guide you through entering your Business Income and Expenses

When you get to Expenses, Other Common Business Expenses lists the most common business expenses.  If you are unable to find a specific expense, scroll to the bottom of that page for Other Miscellaneous Expenses.

NOTE: Use the "Learn More" and "More Examples" blue links to learn more about what types of expenses are entered in each category.

Click on screenshot below for detail


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1 Reply
PatriciaR
New Member

I want to report my business income/expenses. I am in the self-employed tab, but I have a single owner LLC. Should I report this elsewhere or is this the right location?

Yes, you are in the correct location.  See the following info for TurboTax Self-Employed:

If you run a small business as an independent contractor, freelancer, single-member LLC, or you own a farm, TurboTax Self-Employed is right for you!

Whether you recently began consulting, started a business or have owned one for decades, TurboTax Self-Employed gives you the power to file your taxes with confidence. It covers everything for your personal return (if you have W-2)  along with the forms, schedules, and guidance you need to ensure your self-employed taxes are done right the first time.

This year, we’re including a 1-year subscription to QuickBooks Self-Employed to track business expenses like mileage, phone and supplies so you can easily import these deductions when tax time rolls around next year. That way you can be sure you’re getting all the business credits and deductions you’re entitled to year after year.

Steps to enter Business Income and Expenses:

  • Sign into your account and click Take me to my return
  • In the Search box (upper right of program) search "schedule c"
  • TurboTax will guide you through entering your Business Income and Expenses

When you get to Expenses, Other Common Business Expenses lists the most common business expenses.  If you are unable to find a specific expense, scroll to the bottom of that page for Other Miscellaneous Expenses.

NOTE: Use the "Learn More" and "More Examples" blue links to learn more about what types of expenses are entered in each category.

Click on screenshot below for detail


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