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February 21, 2021
Question

Does anyone know how to edit their selection for Schedule C question 32 from the online version of turbotax self-employed?

  • February 21, 2021
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1 reply

February 24, 2021

To access 'at risk' questions in TurboTax Self-Employed, follow these steps:

 

Down the left hand side of the screen, click on Federal.

Across the top of the screen  click on Income & Expenses.

Click Edit/Add to the right of Self-employment income and expenses.

Click Edit to the right of the self-employment activity.

Scroll down to Uncommon situations / Carryovers, limitations, at risk limitations, etc.

Click Edit to the right.

Answer the appropriate questions at the screen Do you have any of these other business situations?

 

The at-risk rules prevent taxpayers from deducting more than their actual stake in a business. This usually means that for tax purposes, only money you are personally liable for is considered at risk, and, therefore, tax deductible.

 

 

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dansram98Author
February 24, 2021

Yes I'm all good now.  Thanks for your time.