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June 6, 2019
Question

Schedule C at risk box says checked and I can’t find it during the scan and it won’t let me fix it there...help

  • June 6, 2019
  • 2 replies
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2 replies

DawnC0
Employee
June 6, 2019

Line 32a on Schedule C indicates all investment is ''At-Risk''.  You can follow these instructions below to change this entry in TurboTax Home & Biz -

  • Open your tax return
  • Type “Schedule C" in the search box, top right of your screen, then click the 'Find' button
  • Click the "jump to schedule c" link in the search results.
  • You will arrive at the Your Business summary page where you can add/edit a business
  • Click Edit next to the business where you need to make a change
  • Now, you should arrive at a Business Information summary page
  • Scroll down until you see the section for Final Details (see attached screenshot).  Click the Update button next to Special Situations.
  • The next page will have the “at-risk” question at the bottom (see screenshot)
  • If you accidentally indicated that the at-risk rules applied to you the first time through, then you can then edit this question by unchecking it.
April 12, 2023

RE: the $ "at risk question," which for 2022 is Schedule C line i.
I'm trying to UNCHECK the box, because it says, "check this box if some of your investment IS NOT at risk" - as it's all my money, I understand it's ALL at risk, but I can't UNCHECK the box.
I go to FINE DETAILS under Business Income and Expenses, but when I try to fix it by checking NONE OF THE ABOVE, it stays STUCK on THIS answer: “I have money in this business that I am not at risk of losing; that is, certain cash, property, or borrowed amounts that are protected from loss”
I’ve tried to go back to checking NONE OF THE ABOVE and UNchecking the other answer many times, but it doesn’t stay checked – any insights?
Thank you!
JJEM1

PatriciaV
Employee
April 12, 2023

Did you have a loss this year? The at-risk question is triggered if you have a loss. Check to see if your return includes Form 6198. If so, you won't be able to check the box for "All investment is at risk" without deleting Form 6198.

 

If you are using TurboTax for Desktop, you can delete a form using Forms Mode. Open the form and click the Delete Form button in the form footer.

 

If you're using TurboTax Online, open your return and go to Tax Tools in the left column, Choose Tools >> Tool Center >> Delete a form. Click Delete next to Form 6198 and confirm.

 

Otherwise, you may need to upgrade to TurboTax Live so an agent can work with you via screenshare.

 

@JJEM1 

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April 15, 2023

Thank you so much, Patricia V - I was able to delete form 6198 and that took care of it!

October 1, 2023

I have the same problem but deleting that form didn't change anything for me 😞