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October 1, 2022
Question

Business Expenses - Common Business Expenses Not Adding Correctly

  • October 1, 2022
  • 1 reply
  • 0 views

On the Your Deductions Page, under Common Business Expenses, it shows $87,987.

 

When I click on the update button for Common Business Expenses and add the totals from each box, the sum equals $63,403.

 

If I click on Forms vs. step-by-step, it shows $86,274.

 

It looks like Automobile and Truck Expense along with Meals & Entertainment are being entered here and again on the Your Deductions Page.

If I subtract those two amounts (Auto & Meals) from the breakdown, it equals what I manually calculated $63,403.

It's still off by $1,713. There are no depreciation expenses and I've already looked at meal allowances (like others have suggested when I queried this question).

1 reply

Critter-3
October 1, 2022

Review the actual forms and not the summary screens ... what is listed on the summary screens and how it is reported on the return are not the same.  Review any statements produced ... sounds like the missing amount is the 1/2 of the meals expense that is not deductible. 

October 1, 2022

Thank you! I will check the forms.