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Where do I report my rent for my Hair Salon Booth I rent for my business of Cosmotology

I am self employed, I don't have an employer, I rent my booth to conduct business  as a Beautician.  There is no category for which to enter this expense
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DS30
New Member

Where do I report my rent for my Hair Salon Booth I rent for my business of Cosmotology

Yes you can deduct the booth rental under the rental expense section under common business expenses on your business income and expenses summary page (screenshot).

Also you would be able to claim any ordinary and necessary business expense that relate to your self-employment home business (including hair products, uniforms, etc.)

This can include such things as any unreimbursed business miles driven to a client or work location, home office expense if you uses a part of your home exclusively for your job and supplies or equipment used in your work to name just a few.

Please refer to this IRS link for more information about Business Expenses

However, for business equipment

If each piece of equipment is less than $200 per item, you can include the tools under Business Expenses > Other Common Business Expenses (start/update) > Other Miscellaneous Expenses (start/update). You can enter this as "Office Safe" and enter the amount (See Screenshot)

If however a piece of equipment is substantially more than $200, you will need to enter each item (the rest can still be expensed as above) that is over this amount individually as an asset (you will still be able to claim the full expense as an IRC section 179 deduction if she has enough income to offset this deduction. Otherwise you will be able to take a depreciation expenses over the life of the items).

Enter each asset under the Your () Business Summary page under assets. Follow the TurboTax guidance to help you enter this information.

To enter business income and expenses, once you have signed into your TurboTax Account (for TurboTax Online sign-in, click Here , then select "Take Me to My Return"), type "Schedule C" in the search bar then select "jump to Schedule C"


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