topic Tax Year Prior to 2020: deductions in Deductions & credits

Tax Year Prior to 2020: deductions

emmett2 — Thu, 18 May 2023 17:27:50 GMT

Where do I put in my deductions for travel/mileage for my car for my business on turbotax Home & Business. It does not give the option or tell me how much per mile. Nor did it ask about things like storage cost for tools or phone costs for my business, or anything. I swear it was there last time I used turbo tax for my taxes.

Re: deductions

RobertG — Fri, 31 Jan 2020 19:40:00 GMT

In TurboTax Home and Business, when you go in to edit your business, the program will offer you the option under 'Business Expenses' to 'Visit All'.

Under 'Vehicle Expenses', it will allow you to enter both your mileage and actual expenses to determine which is best for you.

To add expenses not classified, select 'Other Miscellaneous Expenses', and enter a description and the amount.

Phone expenses are usually reported as a 'Communication' expense.

Re: deductions

emmett2 — Sat, 01 Feb 2020 03:00:00 GMT

Dear Sir,

I am not seeing business expenses. I see business deductions under 'Less commen business situations'

I hope it doesn't make a difference but I am working on 2016 turbo tax home and business. One would think business deductions would be on here somewhere. Thanks

Re: deductions

KarenJ2 — Sun, 02 Feb 2020 15:06:00 GMT

In your 2016 Home and Business software (see below screen shot):

Click on Business tab at the top
Click I'll work on sections myself
1st screen asks for information on Business profile, go through and answer all question
After entering basic Business information, you will come to a summary screen
Then click the Continue button at the bottom of the page
You will see a screen where you can enter your business income, business expenses and business assets. Click on start for each section.

Re: deductions

emmett2 — Mon, 03 Feb 2020 20:33:01 GMT

ok thanks, now what is better to go with when entering mileage, total miles I drove for the year or beginning and ending odometer readings for 2016.

thanks

Re: deductions

WKins2 — Mon, 03 Feb 2020 20:45:44 GMT

You will enter the total business miles driven for the tax year and then the number of commuting miles. If you drove your car 100% for business then putting the starting and ending miles would be good since 100% of the miles drive were for business and would be deducted.