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golferguy
Returning Member

Have high medical premiums, costs & LTC costs, ~10x the SE income. Do I enter LTC, all premiums, exps in BOTH the Pers. Deductions & Biz Sections? Same in both places?

Does TT sort out the max expenses in SE income and automatically move the balance to Sch A?  Thereby going over std deduction or must I split the expenses at entry time?    
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AmyC
Expert Alumni

Have high medical premiums, costs & LTC costs, ~10x the SE income. Do I enter LTC, all premiums, exps in BOTH the Pers. Deductions & Biz Sections? Same in both places?

You need to split the entries. Your business entries are limited to the premiums paid for by the business. The other expenses should be listed with Sch A.

 

See Tax Guide for Small Business

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