In TurboTax Self-employed you can enter factoring costs as follows:
- Business >> Business Income and Expenses >> Select >> "Start/Update"
- Next you'll see your business income screen >> Select >> Edit
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Scroll Down >> Business Expenses >> Select >> Other Common Business Expenses
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Select >> "Start/Update" >> "Let's write off some business expenses
- Pick a category that makes sense to you >> Select >> Start
Almost any of these, Interest Payments, Legal & Professional, Other Miscellaneous Expenses, has blank lines that you can type in your own description "Factoring", so you'll know what it is when you look at it later.
