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April 6, 2025
Question

How to record business expenses in Turbo Tax Premiere?

  • April 6, 2025
  • 2 replies
  • 0 views

Is there a way to record business expenses (no income) in Turbo Tax Premiere?  Sounds like I should have used Home and Business.  How can I correct this now?

    2 replies

    SharonD007
    April 6, 2025

    Is your business a Sole proprietorship? If so, you will report expenses (and income when you have it) on Schedule C. If so, you can use TurboTax Premier or TurboTax Home & Business.

     

    If you would like to upgrade to TurboTax Home & Business, refer to the TurboTax Help article How do I upgrade to a different TurboTax Online product? for instructions.

     

    Follow the instructions in the TurboTax help article Where do I enter my self-employment business expenses, like home office, vehicle mileage, and supplies? to enter your business expenses on Schedule C.

     

    If you need help with a different type of business, reply back.

     

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
    VolvoGirl
    April 6, 2025

    I assume you are using the Desktop installed program?  Yes you can use Premier.  All the Desktop programs have the same forms, you just get more help in the higher version.

     

    For the Desktop programs………
    Go to Federal Taxes Tab
    Wages and Income,
    Click on I'll choose what I work on
    Then scroll way down to Business Items


    Then…..
    Business Income and Expenses - Click the Start or Update button


    Then click EDIT by the business name and the next screen should be a list of topics,
    Business Profile, Income, Inventory/Cost of Goods Sold, Expenses, Assets, and Final Details last.  You may have to go though some screens and questions about your business if you haven't set up a schedule C yet.  


    Under Business Expenses, Click Start or Update by Other common business expenses