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pj2424
New Member

Will Turbo Tax tell me which is better - filing with a sole proprietor biz or just taking the standard deduction?

I have an LLC, but didn't generate any income in 2018.
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Anita01
New Member

Will Turbo Tax tell me which is better - filing with a sole proprietor biz or just taking the standard deduction?

The 2 are totally unrelated.  The standard deduction is taken as an alternative to itemized deductions for personal expenses, has nothing to do with taking business expenses on your Schedule C.  Those Schedule C business expenses can be taken whether you itemize your personal deductions or take the standard deduction. So, no, the program will not tell you which is better because you can do both.

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Anita01
New Member

Will Turbo Tax tell me which is better - filing with a sole proprietor biz or just taking the standard deduction?

The 2 are totally unrelated.  The standard deduction is taken as an alternative to itemized deductions for personal expenses, has nothing to do with taking business expenses on your Schedule C.  Those Schedule C business expenses can be taken whether you itemize your personal deductions or take the standard deduction. So, no, the program will not tell you which is better because you can do both.

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