Investors & landlords

When you are in your business or rental activity you must go to the asset section and then edit this asset to let TurboTax know that you no longer have this franchise fee and that you have disposed of it with a zero sales price (if applicable).

1. Sign into your TurboTax account
2. Select Business Income or Rental Income (depending on the activity associated with your franchise fee
3. Edit beside this asset > Continue to the screen 'Tell Us More About This Asset' > Select 'The item was sold, retired, stolen, destroyed, disposed of....'
4. Select 'Yes, I've always used this item 100% of the time for this business' 
5. Enter your dates - retired and date you started using for business > Continue to the 'Special Handling Required' screen and answer No > Continue
6. If there is no sales price enter nothing > Continue to see your expense deduction that will carry to your expenses on your business or rental.
7. See the image below