Yes, as long as the business is still active. If it's a new business, then your start date is the first date you are able to receive income (whether or not you did). All expenses prior to that are Start Up costs.
You will need TurboTax Self-Employed to enter your business expenses.
You
will file a Schedule C as a self-employed person. (This is
true as long as you have not taken any steps to become a corporation or are not
a multi-member LLC.) The
Schedule C will flow onto your individual income tax return (Form 1040) and be
netted with other personal income and expenses.
How to get to the area to enter your business income/expenses
:
While inside the
software and working on your return, type Schedule C in the
Search at the top of the screen (you may see a magnifying glass there).
There will be a popup that says Jump to Schedule C.
Select that to get to the general area.
When
you set up your business, you can use your own name, address, and social
security number (if you don't have a business name or EIN). Then, when done
with the Business Profile:
- go to Business Income
and Expenses
-
select Edit next
to your business (if it is there)
- scroll to Business
Expenses
- then Select one of the
following, depending on what expenses you are entering: Other
Common Business Expenses, Home Office, or Business
Vehicle Expenses
Follow
through all the areas in the Business section of the TurboTax software and it
will provide you with a lot of assistance. You'll notice blue links that
have more information and details about the particular sections that will be
extremely helpful.
Also,
this link may be helpful to you IRS
Small Business Help Center .
