cp3375
New Member

Business expenses incurred in 2024 for Franchise not open yet in 2025

How do I enter travel expenses/legal fees incurred choosing and buying my  Franchise that I incurred in 2024 but is not open/in business but will be in 2025.  (Using personal Turbo Tax Deluxe?)

Also can I deduct any of the Franchise fee that I paid in 2024 or must I amoritize it all in 2025? 

I have found multiple questions about this on the site but am still confused how to enter this on our personal taxes. 

 

 

Thank you