You can deduct supplies and part of your phone and interest bill; as for the cost of a phone and a laptop, those items have to be entered as business assets and deprecated. When you answer question about your business/self-employment income and expenses, TurboTax will help to navigate you to the right section where you can enter your assets.
There is a short cut how to enter your self-employment income and expenses in TurboTax:
- Type Schedule C in the search/find bar and click search/find.
- Click on Jump to Schedule C.
- Click on start/edit or Add Another Business.
- At the Your Business screen: 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.
- Continue with the onscreen interview.
