Get your taxes done using TurboTax

If you have not filed before with your income including your business in baking, you may want to consider some professional advice.

However, if you want to get going in TurboTax, and since you have not done this before, you are in the right software desktop version.

When you have the program open with whatever you have so far entered, 

  1. See image #1 and click on BUSINESS.
  2. Then choose either to allow the program to walk you through or else pick specific topics - may be best to allow program to do it this first time
  3. Report your type of business when asked and the details in the Profile.
  4. Then, see image #2 - the list of areas that you may have to cover to enter your business details.  For example, although you do not use an office in your home, you do conduct business in your home - the kitchen and storage area.  Either Click "View All" to run through all areas of Business expenses or else: 
    1. So scroll down to "Business Expenses"
    2. Start/Click "Home Office Expense"
      NOTE:  If the areas are not used exclusively for your business, then there may be question about reporting the general expenses related to those areas as business expenses.  Specific expenses relating to the business are, of course, deductible.
  5. Also Start/Click the "Business Vehicle Expense" to enter your transportation expenses.
  6. "Other Business Expenses" covers a wide range of expenses including telephone costs, permits and legal expense, for example

You are in fact running a business - and you are considered a "Sole Proprietor" so your tax filing will generate both a Schedule C and a Schedule SE as a result of all your entries.

If this posted response is useful to you, please click on the upraised hand in the lower left of this post. Thank you. Scruffy Curmudgeon--PFFM/ IAFF, retired FireFighter/Paramedic - Locals 718/30, Veteran USAR O3 AIS/ASA '65-'67


NOT INTUIT EMPLOYEE
USAR 64-67 AIS/ASA MOS 9301 - O3

- Just donating my time
**Say Thanks by clicking the thumb icon in the lower left corner -it means nothing but makes those than answer feel wanted.