Deducting S-Corp losses from W--2 taxable earnings - how do I verify?

Your S-Corp loss coming from a Schedule K-1 is transferred to line 5 of Schedule 1 of your form 1040.

If you are using TurboTax Desktop. switch to Forms mode and check that line 5 of Schedule 1 of form 1040 is populated with a negative number.

If you are using TurboTax Online, you can preview your form 1040 by following these steps:

1. Open your return
2. In the left-hand column, locate Tax Tools, click on the drop-down arrow then click on Tools
3. On the Tools Center page, click on View Tax Summary
4. In the left-hand column, click on Preview my 1040
5. Your form 1040 will display.
6. Scroll down to line 5 of Schedule 1 and you should see a negative amount on this line.