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Level 2
posted Oct 27, 2021 11:03:50 AM

Deductions of business expense

How and where do  I deduct my expenses for my small business.  

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1 Replies
Employee Tax Expert
Oct 27, 2021 11:18:50 AM

In order to deduct expenses for your business you would either need to use TurboTax online self employed version or TurboTax desktop home and business version.

 

You would start by letting the program know you have self employment income either 1099-NEC or cash income.

Once the income is entered you will be able to enter your expenses for the business below are a couple of helpful links for you.

 

https://turbotax.intuit.com/tax-tips/self-employment-taxes/reporting-self-employment-business-income-and-deductions/L3Unchx1x

 

https://turbotax.intuit.com/tax-tips/small-business-taxes/taking-business-tax-deductions/L5RueYPVS