Schedule C - where do I enter HOA fees as part of my self employed business?

Forum|Forum|2 years ago
March 19, 2024
2 replies
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in the past, TurboTax prompted me to enter this information and it is not doing so this year. Where would I enter this expense? Also, I received a 1099 MISC for the cost of a credit card provided by my finacial firm - I pay the fee and then they reimburse me the amount. Is there any special way I should hande this item?

DianeW777

It depends. If you are entering self employment income and expenses you will enter the expenses there. If you are using a home office then HOA fees would be entered in that section. As far as the 1099-MISC, you can simply enter the income as 'Other Income' without entering the 1099 itself, then enter the fee you repay as an expense.

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B_T007Author

Thank you so much for your quick response! Which category of expenses do i put it under? I don't see HOA fees listed in that section in TurboTax. Thank you in advance.

PatriciaV

The HOA fees would be a miscellaneous business/rental expense. Depending on what version of TurboTax you are using, and which schedule is used, it may be called "Other Expenses" in the list of expenses. Enter a custom description and the amount.

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B_T007Author

Thank you - with your help I was able to find the section and enter it correctly. I am now at question 32 on Schedule C and do not understand what to check since I had a "loss" - 32a or 32b. How do I decide the right box to check ?