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apolnicki
New Member

Where do I enter expenses related to moving/relocating a small business

I moved a business more than 400 miles. 

Where do I enter the expenses associated with the cost to move equipment and inventory?

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Accepted Solutions
DanielV01
Expert Alumni

Where do I enter expenses related to moving/relocating a small business

Here's how to do this:

  1. Click on the Business tab, and navigate to the Business Income and Expenses screen.
  2. Under Business expenses click the Start or Update button for Other Common Business Expenses
  3. On the screen Let's write off some business expenses click the Start or Update button for Other Miscellaneous Expenses.
  4. Enter "Moving Expenses" under description and the amount.  Note:  do not include expenses for the vehicle you use for your work here.  You may enter those under the "Vehicles Expenses" screen.  But you would want to include a rented moving truck and fuel related to the truck if you had that expense here.

These items are in fact reported on Schedule C, provided your business is only owned and operated by you.  (If you have another structure, such as a multi-member LLC, the procedure is very different because you have to file a different type of return altogether for the business)

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5 Replies
DanielV01
Expert Alumni

Where do I enter expenses related to moving/relocating a small business

Is this for a Schedule C?
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apolnicki
New Member

Where do I enter expenses related to moving/relocating a small business

With TurboTax Home and business,  under the business tab, what category do I enter the expenses associated with moving my small business?

I do not know if this is a schedule C item.
DanielV01
Expert Alumni

Where do I enter expenses related to moving/relocating a small business

Here's how to do this:

  1. Click on the Business tab, and navigate to the Business Income and Expenses screen.
  2. Under Business expenses click the Start or Update button for Other Common Business Expenses
  3. On the screen Let's write off some business expenses click the Start or Update button for Other Miscellaneous Expenses.
  4. Enter "Moving Expenses" under description and the amount.  Note:  do not include expenses for the vehicle you use for your work here.  You may enter those under the "Vehicles Expenses" screen.  But you would want to include a rented moving truck and fuel related to the truck if you had that expense here.

These items are in fact reported on Schedule C, provided your business is only owned and operated by you.  (If you have another structure, such as a multi-member LLC, the procedure is very different because you have to file a different type of return altogether for the business)

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Where do I enter expenses related to moving/relocating a small business

Do I have to move my small business a minimum amount of miles to claim moving expenses?

 

AnnetteB6
Employee Tax Expert

Where do I enter expenses related to moving/relocating a small business

No, if you moved your small business, it is simply a business expense that you can claim.  

 

@Victory21

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**Mark the post that answers your question by clicking on "Mark as Best Answer"
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