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surfdad1
New Member

Can I deduct the same expense from both of my businesses?

 
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2 Replies
ee-ea
Level 15

Can I deduct the same expense from both of my businesses?

You paid them once : you expense them once. No double dipping.

JotikaT2
Employee Tax Expert

Can I deduct the same expense from both of my businesses?

You can deduct the expenses applicable to each respective business.

 

You may have the same types of expenses such as supplies, repairs, etc. but you would only deduct the expenses as they apply to each business.

 

I have attached an article to help break down which expenses are tax-deductible for businesses as a guide to assist you as you prepare your return.

 

Self-employment income and expense guide

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