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First, you will enter the full amount of your income in the income section, and then you will enter the GE in the Taxes and Licenses section. You can create a category called General Excite Tax.
First, you will enter the full amount of your income in the income section, and then you will enter the GE in the Taxes and Licenses section. You can create a category called General Excite Tax.
Where is this section???
Go into your business return, click Edit
Go to Business Expenses, click View All/ Visit All
Scroll down to Taxes and Licenses, select Start
Description General Excise Tax Amount $xxx
Continue
@Anonymous
hello,
Is there a place to enter GE taxes paid on turbo tax deluxe?
No. First, General Excise taxes for personal expenses are not deductible.
Next, you can deduct as a business expense, excise taxes that are ordinary and necessary expenses of carrying on your trade or business. You can do that in an online self-employment product or desktop Home and Business or if filing a partnership/corporation return use a business product. In all cases navigate to the "expenses" topic for your business and locate the "Taxes and Licenses" item.
thank you!
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