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Joe M07
Level 1

Turbotax Business - Common Business Expenses

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?

1 Best answer

Accepted Solutions
tagteam
Level 15

Turbotax Business - Common Business Expenses

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

 

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

View solution in original post

9 Replies
tagteam
Level 15

Turbotax Business - Common Business Expenses

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

 

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

View solution in original post

JumpingFrog
New Member

Turbotax Business - Common Business Expenses

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
Level 15

Turbotax Business - Common Business Expenses

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

JumpingFrog
New Member

Turbotax Business - Common Business Expenses

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
New Member

Turbotax Business - Common Business Expenses

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
Returning Member

Turbotax Business - Common Business Expenses

TurboTax Business  Depreciation Carryover form 2018

 

theteam
Level 2

Turbotax Business - Common Business Expenses

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
Level 2

Turbotax Business - Common Business Expenses

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
Returning Member

Turbotax Business - Common Business Expenses

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.  

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