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Turbo added a $5 business expense deduction to my standard deduction. I don't know how they got it. Can't ask Turbo without paying an upgrade. What is it?

Where did the $5 business expense deduction come from if I filed no form for it?
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2 Replies
JohnB5677
Expert Alumni

Turbo added a $5 business expense deduction to my standard deduction. I don't know how they got it. Can't ask Turbo without paying an upgrade. What is it?

Please clarify your question.

Unfortunately, we can't see your tax return to to evaluate your problem.   I'll have to ask you a couple of questions.

 

Is there any error message or explanation of this?

 

The standard deduction amounts for 2023 are:

  • $27,700 – Married Filing Jointly or Qualifying Surviving Spouse
  • $20,800 – Head of Household
  • $13,850 – Single or Married Filing Separately

For 2023, the additional standard deduction amounts for taxpayers who are 65 and older or blind are:

  • $1,850 for Single or Head of Household
  • $1,500 for married taxpayers or Qualifying Surviving Spouse

Increased standard deduction – If you had a net qualified disaster loss and you elect to increase your standard deduction by the amount of your net qualified disaster loss, use Schedule A (Form 1040) to figure your standard deduction. For more information, see the Instructions for Schedule A and the Instructions for Form 4684

 

You can also look at a preview of your 1040.  It includes Schedules 1, 2, & 3.

Schedule 3 is Additional Credits & Payments.

 

You can preview your tax return by going to:

 

  1. On the menu bar on the left that shows.
  2. Select Tax Tools
  3. On the drop-down select Tools
  4. On the popup menu
  5. Select View Tax Summary
  6. On the left sidebar
  7. Select Preview my 1040.
  8. Schedules 1,2 & 3 are included if you scroll down past your 1040.
  9. To return to the entry screens press Back on the sidebar.

Please contact us again with any additional questions or to provide some additional details.

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Turbo added a $5 business expense deduction to my standard deduction. I don't know how they got it. Can't ask Turbo without paying an upgrade. What is it?

Apparently this $5 was from Turbo tax for having used their services last year. I finally spoke to a representative who said this decision to distrubute was made Dec 11, 2023.  Would have been helpful for Turbo to let us know, as it is concerning that it looks like I have a small business, which I don't.

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