SaaS and Training Business Expenses Entry in TurboTax

Forum|Forum|4 years ago
November 29, 2021
2 replies
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I am doing expenses for my wife's LLC as part of our Personal Tax Submission and for the most part the TT expenses items match GL Categories for her expenses. However I don't see any for Software as a Service (SaaS) or Training and I guess I could put them under Misc but they seem pretty common and figured I should ask since this isn't my forte.

Best answer by Critter-3

There are 17 unique categories for entering business expenses in the TurboTax Home and Business program for a Schedule C. If you have a particular expense that does not fit in the other 16 categories listed use Other Miscellaneous Expenses at the bottom of the list.

Click on Business
Click on Business Income and Expenses
Click on I'll choose what I work on
On Profit or Loss from Business, click on the start or update button

On the next screen, click on Edit for your business listed.

On the next screen scroll down to Business Expenses

On Other Common Business Expenses, click on the start or update button

Anonymous_

Employee

The screenshot below is from the expenses section of Schedule C.

Clearly, the categories available in TurboTax are more detailed than the Schedule C categories. As a result, many of the TurboTax categories wind up in Other expenses (i.e., Misc), regardless.

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Critter-3Answer

Click on Business
Click on Business Income and Expenses
Click on I'll choose what I work on
On Profit or Loss from Business, click on the start or update button

On the next screen, click on Edit for your business listed.

On the next screen scroll down to Business Expenses

On Other Common Business Expenses, click on the start or update button

Spirullon

It can indeed be a bit tricky when TurboTax doesn't have specific categories for SaaS and training expenses. Using the "Miscellaneous" category is a practical choice, and it's a good idea to maintain detailed records for accuracy.I understand that dealing with taxes and expenses can be a bit overwhelming, but you're doing a fantastic job taking care of it. As someone who has navigated through similar challenges, I know the importance of staying organized.I recently stumbled upon some exciting Black Friday SaaS deals on this blog: https://blog.coupler.io/black-friday-saas-deals/. It's a great way to explore potential savings on software services.