turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Deducting personal purchases as business expenses

I recently created an LLC. I began setting up the business while waiting for the state's approval. I purchased education to learn all about the business. I also purchased a phone system, call center service,  virtual mailbox, CRM software, and spent a good amount of money on marketing. All these expenses were exclusively for the business but purchased with my personal bank account because I didn't have a business bank account as I was waiting for the state's approval of my LLC. Am I still able to write these off as business expenses when I file my taxes even though I purchased them personally? If I can, would these write-offs be on my personal taxes or my business taxes? 

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

Deducting personal purchases as business expenses

A single-member LLC is a disregarded entity for federal income tax purposes and indistinguishable from you; it is treated as a sole proprietorship.

 

You will file a Schedule C and report all of your income and expenses, business account or not.

TomD8
Level 15

Deducting personal purchases as business expenses

This TurboTax help article might be of use:

Starting a New Startup Business - TurboTax Tax Tips & Videos (intuit.com)

**Answers are correct to the best of my ability but do not constitute tax or legal advice.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies