Solved
With business expenses subject to the 2% adjusted gross income threshold, do I enter the full expenses on the schedule C? Or only the amount exceeding 2%?
For example, if my client has business income totaling $30,000, 2% is $600.
If the client's business expenses are $800, do I list all $800 of the business expenses or do I only list the amount that exceeds the 2% ($600) which would total $200?
If the client's business expenses are $800, do I list all $800 of the business expenses or do I only list the amount that exceeds the 2% ($600) which would total $200?
