Filling up schedule c on expenses ' how to write it

[newbenwindowscleaning]

I have lowes ' home depot ' harbor freight ' all receipt contains all business 100% tools supplies ' can i just write on the column ..example home depot 1 year receipt $1250 ... or do i have to listed bleach 10 gallon. $125 ' any one have sample ? To filling it properly ' so sound clear and honest to irs ' or who read it

[SharonD007 · Accepted solution]

No, you don't have to list each individual receipt.  You can add up the receipts in each category (supplies, office expenses, meals, etc.). Review What self-employed expenses can I deduct? to determine what business expenses you can deduct.

Also, take a look at the TurboTax article Reporting Self-Employment Business Income and Deductions for more information on business deductions.

[newbenwindowscleaning]

Is it mean i need to write individually whats on receipt ? Example ' pressure wash on asset ' bleach on supplies ' ?  

What if the stuff i use to do the business ' example ' i use christmas lights on install christmas light ' what they consider ? Supplies ? Because each receipt i have usually ' specific business ' example 1 year home depot all receipt for pressure wash ' 1 year receipt for christmas light business ? 

Thank you again

[SharonD007]

Yes, you can write what you purchased on each receipt and keep the receipts for supporting documentation.

[newbenwindowscleaning]

I assuming if  there 100 receipts ' there 1000 items all for business ' i can simply sum it all in 1 sentences example ****home depot 1 year receipts all tools on assets. $1250 ...  100% deduction section 179

Ben

[KeshaH]

You can group related expenses together and include them as one line item. In your example, you can treat all of the receipts as "Supplies" - add them all together and put the total on the supplies line. If you purchased equipment, you'd seperate out the expenses that were for equipment or tools purchases and put those on separate line.

[newbenwindowscleaning]

Lets say i assuming these way i report below

Which one correct

There are 100 items on those 300 receipt but all for businesses i have 3 businesses. Can i just write 1 year home depot receipt for assets $2398. '1 Lowes receipt $1226.... or ... pressure washer $599 'window cleaning tools $290 'christmas light wrech $199..... on schedule c - expense - assets - tools

 ct ?

[KeshaH]

If all of the lines of business are separate, you would report the expenses separately. If the businesses are similar and/or operated within the same LLC you would report all of your income and expenses on one Schedule C. 

You don't need to itemize out the expenses based on where you purchased the items.

Instead of including separate lines for Home Depot and Lowes, for example, you can add up all of your Home Depot and Lowes receipts together and put it on one line for "Supplies".