Do I get to deduct 100% of my expenses being self employed? Turbotax is only allowing 30%. Why?

jaydeebaseball · ‎March 3, 2021

ThomasM125 · ‎March 3, 2021

You should be able to deduct 100% of most expenses associated with your business, but that does not apply to all business expenses.

You can only deduct a portion of expense for things that have personal as well as business use. Example of this are telephone, vehicle use, and home office deductions. You only deduct a percent of those expenses based on your business versus personal use.

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ThomasM125 · ‎March 3, 2021

You should be able to deduct 100% of most expenses associated with your business, but that does not apply to all business expenses.

You can only deduct a portion of expense for things that have personal as well as business use. Example of this are telephone, vehicle use, and home office deductions. You only deduct a percent of those expenses based on your business versus personal use.

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

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Do I get to deduct 100% of my expenses being self employed? Turbotax is only allowing 30%. Why?