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J
jborder
April 15, 2025
Question

Have entered self employment income and expenses as I did in previous years, but Turbotax doesn't show the net loss (just shows $0) as it did last year. How to fix?

  • April 15, 2025
  • 1 reply
  • 0 views
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    1 reply

    D
    DavidD66
    April 15, 2025

    When you have a loss on a Schedule C, the loss isn't deductible unless you have checked a box on the form to indicate that your investment is at risk.  Go back through the questions for your business and make sure you have checked the box, or answered the question yes, to indicate that All Investment is at Risk.  Once checked, your loss will then flow to your Form 1040 and offset other income.

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    J
    jborderAuthor
    April 15, 2025

    Thank you for the quick response.  For the life of me, I can't find where that question is asked.   Could you point me to the exact spot where I can check how I've answered that?  When I look through the section about my business, I see the expenses I have entered and a bunch of questions about the business, but nothing about whether it is "at risk".

    DawnC
    DawnC
    Employee
    April 15, 2025

    It is in the section of the Schedule C interview titled Final Details, at the bottom after Assets.  

     

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