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Daycare and Taxes>Start Up Costs and Tax Return
Teach54 09:45 AM 02-15-2016
Where on my tax return forms do I put the start up costs that I incurred before I had kids and are dated 2014.? I started in 2015. They are all 100% for the business. Thanks
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TomCopeland 10:59 AM 02-15-2016
Originally Posted by Teach54:
Where on my tax return forms do I put the start up costs that I incurred before I had kids and are dated 2014.? I started in 2015. They are all 100% for the business. Thanks
Put them on Schedule C combined with your other expenses. There is no need to show them as a separate start up expense.
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Teach54 12:33 PM 02-15-2016
Thanks for your reply, Tom. I have a small separate building that has it's own electric bill. We also did maintanence and repairs to this exclusive use area. Can I claim these costs on my sch C line 21 and 25 instead of form 8829. I use only a small part of my house for the kids, and would use my t/s% for the other expenses. I'm not getting to use these expenses because I have a loss this year.
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TomCopeland 10:06 AM 02-16-2016
Originally Posted by Teach54:
Thanks for your reply, Tom. I have a small separate building that has it's own electric bill. We also did maintanence and repairs to this exclusive use area. Can I claim these costs on my sch C line 21 and 25 instead of form 8829. I use only a small part of my house for the kids, and would use my t/s% for the other expenses. I'm not getting to use these expenses because I have a loss this year.
Yes, deduct 100% of the expenses to the separate building directly onto Schedule C, instead of Form 8829.
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Teach54 06:03 PM 02-16-2016
Thank you so much for all your help
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