turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Business Expenses - Common Business Expenses Not Adding Correctly

On the Your Deductions Page, under Common Business Expenses, it shows $87,987.

 

When I click on the update button for Common Business Expenses and add the totals from each box, the sum equals $63,403.

 

If I click on Forms vs. step-by-step, it shows $86,274.

 

It looks like Automobile and Truck Expense along with Meals & Entertainment are being entered here and again on the Your Deductions Page.

If I subtract those two amounts (Auto & Meals) from the breakdown, it equals what I manually calculated $63,403.

It's still off by $1,713. There are no depreciation expenses and I've already looked at meal allowances (like others have suggested when I queried this question).

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

Business Expenses - Common Business Expenses Not Adding Correctly

Review the actual forms and not the summary screens ... what is listed on the summary screens and how it is reported on the return are not the same.  Review any statements produced ... sounds like the missing amount is the 1/2 of the meals expense that is not deductible. 

Business Expenses - Common Business Expenses Not Adding Correctly

Thank you! I will check the forms.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question