Your business expenses should be entered in the business section of Turbo Tax Self Employed. Consider the following when entering amounts that you spent in 2016
- If the item has a useful life of more than one year, enter the information in the business asset section. The program will prompt you on how to enter the information and how to depreciate the items over their useful life.
- Most of your expenses will be entered in the Other Common Business Expenses. If the descriptions listed don’t fit, use the Other Miscellaneous Expense category. There you can type in a description of the item and enter the amount.
To enter your expenses:
• Select Business tab and Continue
• Select I’ll Choose what to work on
• Select update next to Business Income and Expenses,
• Select edit next to your business
• Scroll down to the Business Expense section
• Select Start or Update next to Other Common Business Expenses