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Lev
Lev, Tax Advisor
Category: Tax
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Experience:  Taxes, Immigration, Labor Relations
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If you normally cant itemize, but you start an internet business

Resolved Question:

If you normally can't itemize, but you start an internet business from your home can the business expenses be itemized and taken as a deduction?
Submitted: 6 years ago.
Category: Tax
Expert:  Lev replied 6 years ago.
If you have a business - your business income and qualified business expenses are reported on the schedule C - http://www.irs.gov/pub/irs-pdf/f1040sc.pdf
That will not affect your choice to itemize or not.
Your net business income (gross income - expenses) calculated on the schedule C will be reported on the form 1040 line 12 - http://www.irs.gov/pub/irs-pdf/f1040.pdf - and will be added to your total income.
In additional - your net business income will be a subject of 15.3% self-employment taxes.

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