Turbotax Business - Common Business Expenses

[Joe M07]

When I enter the common business expenses from my P&L into TTBusiness, the total in TTB comes out about $3400 higher than my P&L.  Is this an error in TTB?

[tagteam · Accepted solution]

There should not be any kind of math error in TurboTax Business.

Enter Forms Mode and check the entries on the relevant forms.

[JumpingFrog]

I have the same issue.  The total for the common business expenses is $1447 higher than the total of the individual line items, which I've added together umpteen times on a calculator and excel spreadsheet to verify.

[tagteam]

You need to check entries in Forms Mode as the program might be drawing figures from another area.

[JumpingFrog]

I may have the answer for both of us.  TT is adding back in the amortization and depreciation.  You'll see both numbers in the actual form.  TT is a bit opaque in this aspect, innit?

[holyforest]

I have also been experiencing the same errors in the deductions calculations with Common Business Expense.  The totals on TT do NOT add up correctly.  I also checked multiple times.  

I reviewed the forms, I can't figure out where TT is pulling in the difference.  

[rgwalker]

TurboTax Business  Depreciation Carryover form 2018

[theteam]

I have the same issue. How did you solve it?  It's not a carryover or anything. The numbers just don't add up. The total in the column does not match the numbers that show when I click the "Update" button.

[theteam]

Turns out although "Advertising and promotion" was on the same level as and separate line from "Common business expenses", it was included in the total of "Common business expenses". So appears to be deducted twice. Continuing on and hoping it removes the duplicate...

[ccmccartney]

I'm having the exact same problem and it's infuriating.  I don't know how to fix it.  Similarly, Payroll Taxes are included in Salaries and Wages Paid but they should be broken separately since there is a separate category for these.  

[DanPDX]

Same issue, clearly not solved by the post marked "solved" in this thread.

[tagteam]

@DanPDX 

Can you describe, in detail, the issue? What, exactly, are you seeing? 

[DanPDX]

Yes, thank you for monitoring this thread.

I figured it out: there are some figures on the "Other Common Business Expenses" page -- the one that's headed "Let's write off some business expenses" and lists the lines of Schedule C: Advertising, Business Travel, Commissions, etc -- that are not included in the total on the "Your (type of business) Business" page.

I knew meals would be cut by 50%, but I forgot that Health Insurance Premiums would also be put somewhere else.

Nonetheless, it is confusing that the sum total of the dollar figures from the "Let's write off some business expenses" does not equal the dollar figure on the parent page. 

I'm using TurboTax Home & Business for Mac (the downloaded version). I'm in the Business tab, in Business Income and Expense. 

Hopefully this information will be helpful to other users.