Daycare.com Forum
Daycare and Taxes>T&S Turbo Tax
JeepGirl6 07:51 PM 03-05-2011
I have completed my taxes on turbo tax but the only thing I did not deduct was my T&S....Anyone know where it will take me to this section? I can't find the t&s deduction section where you deduct the hours you cleaned, arranged lessons, etc when the children were not there. Thanks
DCMom 10:47 AM 03-06-2011
Just double checking, are you using the Home and Business version?
Under the 'Business' tab, click 'Expenses', then 'Home Office' and it will walk you through questions about time spent and space used in the home office. Turbo tax will apply this percentage to all of the expenses for your home office ~ utilities, property taxes, mortgage interest, R & M, insurance etc.
It will NOT figure this percentage on your other expenses (ie: cleaning supplies, office supplies, advertising, liability insurance, etc) Those numbers you have to calculate yourself and put in the appropriate places under expenses.
I hope that helps
Under the 'Business' tab, click 'Expenses', then 'Home Office' and it will walk you through questions about time spent and space used in the home office. Turbo tax will apply this percentage to all of the expenses for your home office ~ utilities, property taxes, mortgage interest, R & M, insurance etc.
It will NOT figure this percentage on your other expenses (ie: cleaning supplies, office supplies, advertising, liability insurance, etc) Those numbers you have to calculate yourself and put in the appropriate places under expenses.
I hope that helps