shameless111
New Member

Should I provide home office expenses for the full year even if I started my business in September?

I registered my business in September 2019. I have expenses for 2019 but no income until 2020. When I report my home office expenses (heat, internet, etc.) in TurboTax, should I report using 12 months of expenses or just 5 months? Where can I indicate that my expenses are only for 5 months of the year?
‎November 17, 2020 4:59 PM
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TurboTaxBrenda1
Level 15

Self-employed

You will only enter the expenses for the months you had your business. They will know as you will enter the date when you started your business.

‎November 18, 2020 7:00 AM
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shameless111
New Member

Self-employed

Thanks so much for your reply. Where in TurboTax do I indicate the date that my business began? There is a spot where they require me to enter my fiscal year. I didn't see any spot to put the date my business began! 

‎November 18, 2020 8:13 AM
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TurboTaxBrenda1
Level 15

Self-employed

Your fiscal year for 2019 would be the date you opened your business until the end of the year. This will be updated for next year. 

‎November 18, 2020 10:58 AM
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