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December 9, 2024
Question

i only made a couple hundred on my business this year, how do i report the remaining as a loss

  • December 9, 2024
  • 1 reply
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    1 reply

    rjs
    Employee
    December 9, 2024

    If you "made a couple hundred" why do you say that you had a loss? And what is "the remaining"? Do you mean that your gross business income was a couple of hundred dollars, but your business expenses were more than the income?


    You enter your business income and expenses in the business income section of TurboTax. TurboTax will calculate the net profit or loss and report it appropriately on Schedule C.


    If you use TurboTax Online you have to use the Premium edition to report business income and expenses. If you use the desktop TurboTax software you can use any edition, but Home & Business will give you extra guidance and a more detailed interview for entering the business information.