To enter Schedule C income for a business: Type schedule c in Search, Click Jump to schedule c, If you already have a business, Edit. Click Add income for this work, Choose Other self-employed income. Continue. Type cash for Type of Income and 0 for Amount.Having no income but expenses may raise a red flag. The IRS may consider your business to be a hobby if you do not show a profit during at least three of the last five tax years, including the current year (there are special rules for breeding, showing, training or racing horses).

Question

How do I input zero for income for my business (schedule C). I keep on skipping and comes back later that its needed to calculate the expenses

Forum|Forum|5 years ago
January 19, 2021
1 reply
0 views

No text available

TurboTax Self Employed Online

E

ErnieS0

To enter Schedule C income for a business:

Type schedule c in Search,
Click Jump to schedule c,
If you already have a business, Edit.
Click Add income for this work,
Choose Other self-employed income. Continue.
Type cash for Type of Income and 0 for Amount.

Having no income but expenses may raise a red flag. The IRS may consider your business to be a hobby if you do not show a profit during at least three of the last five tax years, including the current year (there are special rules for breeding, showing, training or racing horses).

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"