Hi,
I am new to doing taxes all by myself, I am trying and learning, I have the following questions:
Q1. I purchased a new vehicle in 2022 for business purposes, I wanted to partially deduct (20%) each year the value of the vehicle. This year I just added 20% of the purchase value in 179 and I am hoping I can add the same for the next 4 years.
Please correct me if I am wrong.
Q2. I issued 1099 to one of the contractors, I am wondering where to report it in the TurboTax? While filling expenses, TurboTax asked if I paid more than $600 and need any help preparing 1099, I said no (as I already used pdf document from IRS site to give 1099 when I paid him) and I just reported the amount as expenses without entering contractor's EIN!
Q3. I had another SMLLC, sometime in March 2022, I submitted the termination to the franchise tax board in California, but I have not found any option to mention that while filing taxes in TurboTax (like, I get an option for a car if I stopped using or sold the car). Is there a way to mention that I have terminated it? or I will just not report it from next year while filing?
Thank you
