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Business & farm
You may need to go back and either 1) review/edit your entries for startup costs or 2) delete (trashcan icon) your original entry and try again.
If you enter more than $5000 on the Startup Costs expense topic, TurboTax cautions you to claim no more than $5000 as a current year expense. Any remainder is automatically amortized.
A successful entry under this topic will show Startup Costs $5000 and Other Miscellaneous Expenses of $XX (the annual amortization amount) under Expenses.
Do not enter the startup costs in any other expense topic of Self-Employment.
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March 16, 2025
8:22 AM