topic Deductibles in multiple states in Self employed

Deductibles in multiple states

klnimada — Wed, 27 Oct 2021 18:06:23 GMT

If I do business in multiple states do deductibles have to be accounted for separately based on which state they are from? For example, if I were to have an expense in NY does that have to be separated from expenses in WA and then allocated accordingly? Or do they just fall all under the business total?

Re: Deductibles in multiple states

OpeA1 — Wed, 27 Oct 2021 18:51:19 GMT

Yes, all the business expenses will fall under the business total.

Re: Deductibles in multiple states

JandKit — Wed, 27 Oct 2021 18:59:01 GMT

As mentioned earlier,

The federal would contain all of the business expenses and they are netted together.