Question

"I'd like to enter this item as an expense later" - Where is later?

Forum|Forum|4 years ago
April 11, 2022
1 reply
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After entering asset information in Retirement and Investments\Other Investment Expenses, and Employment Expenses\Job-Related Expenses, TurboTax asks "How would you like to write off this item?" When I choose "I'd like to enter this item as an expense later", it appears the asset information I just entered is nowhere to be found. I am confused - where is "later"? Does it mean on the State Return? I recall a piece of instruction that said "If you do not enter it now (Federal), you will have to come back later to do it."

Thank you.

Z

ZoltanB45

Later means to go back to that section and enter it at a later time.

S

starkyfubbsAuthor

Thanks ZoltanB45. But when I go back to a later time, the same issue occurs.

I have skimmed other threads, and apparently these expenses are no longer deductible on the federal tax return. But may be deductible in certain states. If applicable these expenses entered on the federal return, will be copied over into the state return. But the issue still remains that the assets I enter on the federal side just disappears and tells me to enter them at a later time.

One work around I read was just to enter these assets on the state return, and ignore entering them on the federal side.