You may enter it under Supplies or you may enter it under Miscellaneous Expenses and enter your own Description.
See the screenshots below.
Business assets with a useful life over a year are generally recorded under "Assets/Depreciation" on the Business Income and Expenses section.
To enter your business expenses:
Sign into your account and open your return by clicking the
orange Take me to my return button.
C in the search/find bar and click search/find.
on Jump to Sch C.
on start/edit or Add Another Business.
the Your XXX Business screen,
scroll down to Business Expenses, Other Common Business Expenses.
the Let's write off some business expenses screen, scroll down to Supplies or Miscellaneous Expense.
with the onscreen interview.
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This is directly from the IRS website: The IRS still anticipates issuing more than nine out of 10 refunds in less than 21 days, but there are some important factors to keep in mind for taxpayers. The IRS reminds taxpayers that, by law, the IRS cannot issue refunds claiming:
the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) before mid-February.
While the IRS will process those returns when received, it cannot issue related refunds before mid-February.
The IRS expects the earliest EITC/ACTC related refunds to be available in taxpayer bank accounts or on debit cards starting on Feb. 27, 2018, if they chose direct deposit and there are no other issues with the tax return.
To read the entire IRS article, click on 2018 Tax Filing Season Begins Jan. 29, Tax Returns Due ... - IRS.gov
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[Information added from Super User Carl 4:55 am 4-4-17 PST] If the parent is claiming the student as a dependent on their (the parents) income tax return, then the parent enters the 1098-T Tuition form on their (the parents) income tax return.
Before you enter the 1098-T form, here's some important info you need to know:
If the student on the 1098-T is your dependent, enter the 1098-T on your return, even if your dependent paid the tuition.
If the student on the 1098-T is you, and you're not being claimed as a dependent, enter the 1098-T on your return unless your employer paid for or reimbursed your tuition (in which case, just keep the 1098-T with your tax records).
Enter your 1098-T exactly "as is" even if the amounts are wrong (this is common). Don't worry, we'll give you the opportunity to enter all your expenses later.
Don't enter a "0" in any boxes that are blank, as this will generate errors. Leave blank boxes blank.
Now let's enter that 1098-T form:
Open (continue) your return, if you're not already in it.
In TurboTax, search for 1098T (lower-case works also) and then click or tap the "Jump to" link in the search results.
Answer any education questions that pop up (enrollment status, name of school, and so forth). If you land on the Education Expenses Summary screen, click or tap Edit next to the student in question, then edit the Tuition item.
At the Did you get a 1098-T? screen, answer Yes and continue.
After you enter your 1098-T, we'll ask about other expenses (books, supplies, equipment) and financial aid.
Related Information: "You must fix errors on this page before continuing." when entering 1098-T
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Yes, you have to file an income tax return if you make at least $400, from what the IRS considers self-employed income. Self-employed income is reported on a 1099-MISC form, which is what you have. You must pay SE tax if you had net earnings of $400 or more as a self-employed person. Per Tax Topics - Topic 554 Self-Employment Tax - IRS.gov
If you do not file or include the 1099-MISC form on your income tax return, the IRS will send a letter with penalties and interest.
Does a 1099-MISC mean I'm self-employed?
Why is there an amount in Box 7 (Nonemployee Comp) on my 1099-MISC?
Independent Contractor (Self-Employed) or Employee? - IRS.gov
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You have to be in a particular TurboTax state income tax return to get to the Credit Paid To Other States or Country screens. When you are preparing more than one state income tax return, each state will ask if you paid taxes to another state.
See the screenshot example below.
Once you've determined that you need to file a part-year/nonresident state return, the first thing you want to do is make sure you've filled out the Personal Info section correctly:
With your return open, click the first tab, Personal Info.
Continue to the Your Personal Info Summary screen.
Scroll down to the last section, Other State Income, and click Edit.
At the Did you make money in any other states? question, answer Yes and make sure your nonresident state(s) are selected from the drop-down.
Click Continue to return to the Your Personal Info Summary screen.
After you finish your federal return, you'll automatically move to the State Taxes tab, where you'll see your nonresident state(s) listed in addition to your resident state. To ensure accurate calculations, we strongly recommend preparing your nonresident state return before you prepare any resident or part-year state returns. More tips:
Select the long form (if the option is available) even if TurboTax defaults to the short form.
Only report the income attributable to the nonresident state.
If preparing a nonresident return solely to recover erroneous tax withholdings, enter 0 on the screen that asks for the amount of income earned in that state. This will eliminate your tax liability for that state, resulting in a full refund.
If you live in a reciprocal state, consider submitting an exemption form to your employer so you don't have to file a nonresident return next year.
See the screenshot below for a nonresident/part-year resident state income allocation.
Related Information:How do I allocate (split) income for a part-year state return?
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If your sole proprietorship business was not "open for
business" in 2016, then you do not report these expenses on your 2016
These expenses are considered "startup" expenses. Startup expenses are those expenses incurred before the business is running.
You claim your startup expenses on the tax return for the tax year
you are "open for business".
For startup expenses, it does not matter what year they were incurred.
Keep your receipts and other
paperwork, related to the startup, with your business information.
Enter the startup expenses in the year you are open for business.
If your sole proprietorship business was "open for business" in 2016: Log
on to TurboTax and click on the orange button, Take me to my return.
Type sch c in the Search box.
on “Jump to” link.
If you have not set up your business, you
may be asked some general questions about your business otherwise, click Edit.
On the Your XXX Business screen, scroll down to Business Expenses and choose the appropriate Business Expense category.
Continue with the onscreen interview until complete.
Startup Business Tax Tips - TurboTax Tax Tips & Videos - Intuit
How to list startup costs for a business - TurboTax Support
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Yes, you are taxed on grants, scholarships and stipends on the amount that exceeds your qualified education expenses. No, you are not taxed on loans. Scholarships, fellowships, and Pell grants received by registered students who are working towards a degree at a college, university, or other accredited educational institution are generally nontaxable as long as the money is used for qualified education expenses. On the flip side, you can't claim education credits or deduct expenses that were paid with these tax-free funds. If you use your scholarship to pay for any of these, it counts as income and the amount paid is taxable:
Room and board
Any fees, books, and supplies or equipment that are not required for your courses
If you’re getting a degree at an eligible school, your scholarship is tax-free when used for:
Tuition and fees
Fees, books, supplies or equipment required for your courses
Any scholarship or fellowship for services received under the National Health Services Corps Scholarship Program or the Armed Forces Health Professions Scholarship and Financial Assistance Program
For example, if you used your scholarship to pay for tuition and room and board, you would be taxed on the room and board payment but not tuition.
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If you own a rental, you do
not have to send Form 1099-Misc to your contractor
. That rule was repealed.
You do not need to issue a
Form 1099 for investment rentals. The rules you refer to were not to be
implemented until 2012 for payments made during 2012. They were repealed by HR
4. The President signed the repeal bill on April 14, 2011. In doing so, the requirement for rental property
owners to issue Form 1099-MISC no longer exists for any year.
The exception may not apply to payments made for attorney's fees, which would still
require Forms 1099.
Those rules were repealed
under H.R. 4 (P.L. 112-9) and made retroactive, as if they had never
been enacted. Therefore, landlords, in the ordinary situation of renting out a
house or two, do not have to issue 1099s to service providers. In that
situation, you would answer “no” to the first question, “Did you make any
payments in 2011 that would require you to file Form(s) 1099?” The second
question (“If yes …”) can be left blank.
There are still situations
where a Schedule E filer would have to issue 1099s. In general, you would have
to file 1099s if you materially participate (nonpassive) in the activity. For
example, if you are a real estate professional and treat the rental activities
as nonpassive, you are in a trade or business and you must issue 1099s.
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