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the business (schedule C) has a profit, but I keep getting this mesage

Forum|Forum|5 years ago
June 6, 2020
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Best answer by Critter

Ok ... REVIEW the Sch C ... do you have a profit on line 29?

You can peek at only the Federal form 1040 and the summary of the state info by going here:

1) lower- Left side of the screen...click to the left side of the "Tax Tools" text selection.
2) then select "Tools"
3) then select "View Tax Summary" from the pop-up
4) then back to the left-side and "Preview 1040"

Then hit the "Back" on the left side to get back to your tax entries.

To view your entire return using the online editions (including the state) before you file, you will need to pay for your online account.

To pay the TurboTax online account fees by credit card, without completing the 2019 return at this time, click on Tax Tools >>> Tools and then Print Center. Then click on Print, save or preview this year's return. On the next page, to pay by credit card, click Continue. On the next screen it will ask if you want Audit Defense, if you do not want this option just click on the Continue button. The next screen will ask for all your credit card information so you can pay for the account.

CritterAnswer

Employee

Ok ... REVIEW the Sch C ... do you have a profit on line 29?

You can peek at only the Federal form 1040 and the summary of the state info by going here:

1) lower- Left side of the screen...click to the left side of the "Tax Tools" text selection.
2) then select "Tools"
3) then select "View Tax Summary" from the pop-up
4) then back to the left-side and "Preview 1040"

Then hit the "Back" on the left side to get back to your tax entries.

To view your entire return using the online editions (including the state) before you file, you will need to pay for your online account.

To pay the TurboTax online account fees by credit card, without completing the 2019 return at this time, click on Tax Tools >>> Tools and then Print Center. Then click on Print, save or preview this year's return. On the next page, to pay by credit card, click Continue. On the next screen it will ask if you want Audit Defense, if you do not want this option just click on the Continue button. The next screen will ask for all your credit card information so you can pay for the account.

T

tdattomoAuthor

Shows a profit on line 29, but a negative profit on the home office worksheet

B

BillM223

@tdattomo

Take a look at this answer - https://ttlc.intuit.com/community/tax-credits-deductions/discussion/it-says-i-can-t-claim-a-home-office-deduction-because-profit-was-zero-or-less-but-i-had-a-profit-of/00/772283

There is an additional calculation that you have to make concerning the percentage of time spent conducting business in the home office that may be disallowing the deduction.

Work through the three examples and see if this explains the situation.

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