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Premium Online Edition - Startup Expense Question

First of all, the community site asks us which product we have.  It gives a bunch of choices like self employed and premier but neither of these exist.  They are now combined into Premium as confirmed in this community. 

 

With that out of the way, I am trying to enter startup expenses that were incurred in 2023.  I do not want to combine them with my 2024 expenses.  It seems that other older editions (and answers in this community) say that it's easy since there was a section to enter them called startup expenses or something like this.

 

Unfortunately, premium only allows me to enter the expenses under "miscellaneous expenses" as written by the Intuit help section.  This is not very clean is it?  So my plan is to either ditch Turbotax or enter my 8 different expenses as "Startup Cost - Web Hosting $500" then "Startup Cost - PO Box  $50" and so forth.

 

My Questions:

 

1) Anyone else have experience with specifically premium edition and know what I may be doing wrong?

 

2)  If not, is my strategy above sound?

 

Thank you in advance!!

 

 

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1 Best answer

Accepted Solutions
MaryK4
Employee Tax Expert

Premium Online Edition - Startup Expense Question

There is a question when you are entering your business information where you can indicate that you started the business in 2024.  Even though your startup expenses are from 2023, you have to indicate that the business started in 2024 in order to get the correct Start Up Expenses question and reporting.  

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2 Replies
MaryK4
Employee Tax Expert

Premium Online Edition - Startup Expense Question

There is a question when you are entering your business information where you can indicate that you started the business in 2024.  Even though your startup expenses are from 2023, you have to indicate that the business started in 2024 in order to get the correct Start Up Expenses question and reporting.  

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

Premium Online Edition - Startup Expense Question

You are my new best friend!  Thank you for taking the time to answer me.  You are quite kind 🙂   I added a second business as a test and it worked.   I hope this answer helps future readers in this community.

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