Where do I enter expenses for purchasing a busienss such as down payment and monthly payment of loan?

adrian-allred — Wed, 04 Feb 2026 07:59:53 GMT

Re: Where do I enter expenses for purchasing a busienss such as down payment and monthly payment of loan?

Mike9241 — Wed, 29 Oct 2025 03:02:35 GMT

not enough information. were these franchise costs, did you purchase equipment, goodwill. intangibles are amortizable section 197 assets with a life of 15 year. if you purchased tangible assets you can depreciate them. the life depends on what they are. if you purchase stock or an interest in a partnership and certain other assets like land you get no deduction until you sell or dispose of the business. as to loan payments. only the interest may be deductible, nut the rules can be complicated. you may want to confer with a professional to optimize the results.

topic Where do I enter expenses for purchasing a busienss such as down payment and monthly payment of loan? in Deductions & credits

Where do I enter expenses for purchasing a busienss such as down payment and monthly payment of loan?

Re: Where do I enter expenses for purchasing a busienss such as down payment and monthly payment of loan?