Yes, per the information in the post from NataliaP. You would need the desktop version Home and Business to have forms mode.
Yes, you can deduct the investments as an expense under the section 181.
The Section 181 is available to productions of qualified, television, films, and theater productions with more than 75 percent of costs within the United States. It is extended through the 2020 tax year. You should attach a statement to the return stating that you're making an election under section 181.
There is nowhere in the to input in TurboTax the deduction nor is there a standard election form contained in the program.
Rather, you would add a Miscellaneous Statement or Additional Information sheet in Forms Mode.
