Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 2
posted Feb 21, 2021 12:59:09 PM

Business deductions

I'm not seeing where I put my business expenses...milage, marketing, office supplies, etc, just the basics as a 1099.

0 3 540
3 Replies
Employee Tax Expert
Feb 21, 2021 1:24:06 PM

Once you enter you basic information and the income click "Done" to finish the "Self-employment" topic. You will be offered the option to upgrade to the "Self-employed" product, which you can accept if your expenses are large enough to warrant the upgrade.

 

Once upgraded, click "Income & Expenses" tab at the top of the page and go back to the "Self-employment" topic and review the business entries.  Scroll all the way down and you should find the option to enter expenses. 

 

 

 

   

Level 2
Feb 21, 2021 5:30:11 PM

I already purchased and am using the self-employed version.  After entering my 1099's I don't see a place for all the rest of that information.  I've been claiming the same things for 15 years.  I've just never done it on my own with a program like this.  I know what my itemizations are and have them tallied. 

Level 1
Feb 21, 2021 5:47:19 PM

You can deduct the same expenses in TurboTax like you did before, the only deference you'll need to set up your business assets for depreciation, if you have any. Once you know how to navigate the software, it is relatively easy. 

 

There are tow ways how to enter your business expenses in TurboTax. 

       1. Click on the Business tab and select Continue

       2.  Select “I’ll choose what I work on” and this takes you to “Let’s gather your business info” screen

       3. The first section down is Business Income and Expenses, choose Update

       4.  You are now at the “Here’s  the business info we have so far” screen where you should see your Business listed

       5. Click Edit next to that business and on the next screen, scroll down to the fourth section which should be Business Expenses and select “Visit All”

 

Or you can jump to the section using Search bar.

  1. Type Schedule C in the search bar.
  2. Click on Jump
  3. Click on start/edit.
  4. To enter your income, scroll down to Business Income. Click Start/Update. Click Start/Update next to General Income.
  5. To enter your business expenses, scroll down to  Business Expenses, Other Common Business Expenses. Click Start/Edit.