1353516
Can I just show a single line item for total expenses versus shoing categories like travel, meals, capital, legal fees etc.
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You could, but in my opinion, your return would be more likely to be audited if you lumped all of the expenses together into a single entry.
I'm using the cash method of accounting. I'm assuming everything purchase in 2019 'capital' is expensed in 2019. Where do I enter this type of expense in TurboTax business?
Unless you incorporated the single member LLC is filed on a Sch C with the personal tax return ... you will not use the TT Business version for that ... you use one of the personal tax programs.
"Everything purchased" may not be a "Capital" item that can be expensed, some may need to be depreciated. I highly recommended you seek local professional assistance to get this business started off correctly. Mistakes can be costly down the road.
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