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Will Turbo Tax tell me which is better - filing with a sole proprietor biz or just taking the standard deduction?

Forum|Forum|7 years ago
June 6, 2019
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I have an LLC, but didn't generate any income in 2018.

Best answer by Anita01

The 2 are totally unrelated. The standard deduction is taken as an alternative to itemized deductions for personal expenses, has nothing to do with taking business expenses on your Schedule C. Those Schedule C business expenses can be taken whether you itemize your personal deductions or take the standard deduction. So, no, the program will not tell you which is better because you can do both.

A

Anita01Answer

Employee

The 2 are totally unrelated. The standard deduction is taken as an alternative to itemized deductions for personal expenses, has nothing to do with taking business expenses on your Schedule C. Those Schedule C business expenses can be taken whether you itemize your personal deductions or take the standard deduction. So, no, the program will not tell you which is better because you can do both.