turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Event: Ask the Experts about your refund > RSVP NOW!
Close icon
Do you have a TurboTax Online account?

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

My husband as a small business. Do we do not have enough expenses to itemized because they have changed the minimum amount. Do we need to itemize his expenses.

 
Connect with an expert
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.

1 Best answer

Accepted Solutions

My husband as a small business. Do we do not have enough expenses to itemized because they have changed the minimum amount. Do we need to itemize his expenses.

Don't confuse itemized deductions on schedule A with your business expenses/deductions on schedule C. They are separate. For Schedule A personal deductions, you get to take your itemized deductions or the standard deduction, whichever is larger.

There is no min amount or standard amount for schedule C business expenses.  You get to take both your Standard Deduction or itemized deductions on Schedule A AND all your business expenses.

View solution in original post

6 Replies

My husband as a small business. Do we do not have enough expenses to itemized because they have changed the minimum amount. Do we need to itemize his expenses.

Don't confuse itemized deductions on schedule A with your business expenses/deductions on schedule C. They are separate. For Schedule A personal deductions, you get to take your itemized deductions or the standard deduction, whichever is larger.

There is no min amount or standard amount for schedule C business expenses.  You get to take both your Standard Deduction or itemized deductions on Schedule A AND all your business expenses.

My husband as a small business. Do we do not have enough expenses to itemized because they have changed the minimum amount. Do we need to itemize his expenses.

Thank you, that clarifies this for me.  The standard deduction on the schedule A is larger, do I still need to provide all the documentation as if I was itemizing?
WillK
Intuit Alumni

My husband as a small business. Do we do not have enough expenses to itemized because they have changed the minimum amount. Do we need to itemize his expenses.

For his business, you should claim all the income and expenses of the business. His business expense and income are considered separate from your itemized deductions you can claim on your return. Turbo Tax will walk you through how to report his income and expenses along with your other tax items as well. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

My husband as a small business. Do we do not have enough expenses to itemized because they have changed the minimum amount. Do we need to itemize his expenses.

Yes you helped me!  Can I take the standard deduction for his vehicle?  His record keeping was not the best.
WillK
Intuit Alumni

My husband as a small business. Do we do not have enough expenses to itemized because they have changed the minimum amount. Do we need to itemize his expenses.

Yes you can. If he did not keep the best records you can do that.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

My husband as a small business. Do we do not have enough expenses to itemized because they have changed the minimum amount. Do we need to itemize his expenses.

How do I put that it?  Because TT is telling me that I need to provide a listing of all expenses?
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies