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New Member
posted Mar 19, 2024 8:37:43 AM

How do I add home business expenses?

Where in this program do I add home business expenses?

0 2 495
2 Replies
Level 15
Mar 19, 2024 8:42:47 AM

Do you mean that you are self-employed?  You are posting your question from online Free Edition which will not support preparing a Schedule C for business expenses.   If you need to enter business expenses you will have to upgrade to online Premium or use any version of the CD/download.

 

 

You have self-employment income for which you will pay self-employment tax for Social Security and Medicare.   You will need to use online Premium software or any version of the CD/download so that you can prepare a Schedule C for your business expenses.

 

 

 

https://ttlc.intuit.com/questions/2926899-how-does-my-side-job-affect-my-taxes

 

 

https://ttlc.intuit.com/turbotax-support/en-us/help-article/form-1099-nec/1099-nec/L5qTsBiSe_US_en_US

 

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/26653

 

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

 

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

 

 

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

 

 

https://blog.turbotax.intuit.com/self-employed/self-employed-tax-deductions-

calculator-2021-2022-50907/

 

https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs

 

 

https://turbotax.intuit.com/tax-tools/calculators/self-employed/

 

 

Expert Alumni
Mar 19, 2024 8:44:10 AM

It depends.  If you are referring to an office in the home and it is for your self employed business activity you can use the steps below.

You can choose to use the simplified method for your home office deduction. Count only the square feet used exclusively for business if you do not have another office location for your self employed business. There can be no personal use of the same space, regular and exclusive are the key components to qualify.

 

For more details about the home office deduction you can view IRS Publication 587. TurboTax will walk you through the deduction.

 

@lynda20