where do i enter the cost of sales leads paid in year 2015 to properly receive a tax credit for them?
Those can go in as an Advertising Expense since they are used as a marketing tool for new business.
How to get to that area : While inside the software and working on your return, type Schedule C in the Search at the top of the screen (you may see a magnifying glass there). There will be a popup that says Jump to Schedule C. Select that to get to the general area.
- Business Income and Expenses
- select Edit next to your business (if it is there)
- scroll to Business Expenses
- then, Other Common Business Expenses
- then, Advertising Expense
In general, the tax deductibility of sales leads purchased for business purposes may depend on a variety of factors, such as the type of business, the purpose of the lead data enrichment, and the laws of the relevant jurisdiction. It is advisable to consult with a tax professional or accountant who can provide guidance on the tax implications of purchasing sales leads for your particular business.
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