You can deduct the same expenses in TurboTax like you did before, the only deference you'll need to set up your business assets for depreciation, if you have any. Once you know how to navigate the software, it is relatively easy.
There are tow ways how to enter your business expenses in TurboTax.
1. Click on the Business tab and select Continue
2. Select “I’ll choose what I work on” and this takes you to “Let’s gather your business info” screen
3. The first section down is Business Income and Expenses, choose Update
4. You are now at the “Here’s the business info we have so far” screen where you should see your Business listed
5. Click Edit next to that business and on the next screen, scroll down to the fourth section which should be Business Expenses and select “Visit All”
Or you can jump to the section using Search bar.
- Type Schedule C in the search bar.
- Click on Jump
- Click on start/edit.
- To enter your income, scroll down to Business Income. Click Start/Update. Click Start/Update next to General Income.
- To enter your business expenses, scroll down to Business Expenses, Other Common Business Expenses. Click Start/Edit.
