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June 4, 2019
Question

Tax Year Prior to 2020: I expanded my business by purchasing another vending company. where do I claim this

  • June 4, 2019
  • 1 reply
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1 reply

June 4, 2019

You will enter it as an Asset.  You will Amortize it over 15 years using Straight Line method. 

How to get to the area to enter your business expenses  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. 

Then:

  • select Edit next to your business (if it is there)
  • scroll to Business Assets