How do i report a loss for my failed business?

You should report your gross business income as well as your qualified business expenses in the following area:

Type in schedule c in the search box, top right of your screen, then click the magnifying glass

·  Click the jump to schedule c ink in the search results.

·  Follow the onscreen instructions to enter your business income and expenses

  You will arrive at the Your Business page where you will see the various income and expenses categories.

To enter business income not on a 1099-MISC, follow the above instructions, then:

• On the Your Business page, click Start or Update next to Business Income

• On the Business Income page, click Start or Update next to General Income

• Enter income not designated on a 1099-MISC  on the next page, Tell us about additional income

After completing your entries, TurboTax will automatically compute your gain or loss