Didn’t Include Business Expenses

[MCD24]

I filed my 2024 taxes and paid what was owed in full. However, I failed/didn’t think to put in the expenses that I incurred for the two small businesses I was starting, though I didn’t make money off of them. Can I amend the taxes and put in those expenses, to include classes taken, items purchased, marketing materials, etc…? Thank you.

[CatinaT1]

Yes, you can amend to add those expenses.

If you want to make changes or add a document to a tax return that has already been filed and accepted by the taxing agency, you should follow these guidelines. 

• You must first wait until the initial return is completely processed.
• You will have to use the same TurboTax account that you used for the original tax return.
• Once you begin your amendment, you'll see your original return.
• The refund calculator will start new at $0 and only reflect the changes in the refund or tax due
• Only make changes to the areas of your return that need to be corrected.
• You have three years from the date you filed your return or two years after you paid the tax due (whichever is later) to file an amendment

Select your product below and follow the instructions. 

Amend TurboTax Online 

Amend TurboTax CD/Download 

[AmeliesUncle]

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@MCD24 wrote:

two small businesses I was starting, though I didn’t make money off of them.

 include classes taken

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Were the businesses actually 'open' (ready and trying for business) in 2024?  If not, you wait to claim those expenses until the business opens.

Education that qualifies you for a new line of work is not deductible.