I accidently checked "Not an investment risk" on my schedule C form and now I need to go back and change it to "investment risk" How do I do this?

[Paullmunn]

There is no option to go back and correct this. Help!

[VolvoGirl]

If you need to find where to change the At Risk box on line 32  here are my old notes.  Hopefully they still work or will get you close.

Go back to your Self-Employment Income.   Click on Edit to review your business entries.   Then scroll down to Uncommon Situations, click Edit and check or uncheck the box.  If your investment is at risk, don't check the box.   You may need to delete Form 6198 if you had the box checked and are now unchecking it.     How to delete forms

You can get back to the question about your business investment being at risk by going to the Schedule C and finding the Final Details > Special Situations section (if using TurboTax Home and Business) or the Uncommon Situations section (if using TurboTax Online).  

Within those sections, there will be a check-box to indicate 'I have money invested in this business that I'm not at risk of losing; that is, certain cash, property, or borrowed amounts that are protected from loss.'  Uncheck that box if your investment in your business is not at risk.  

[stevejacobsatlanta]

I tried deleting the form 6198 and have tried everything mentioned and still I can't change unclick the risk button. 

This is the last thing needed before completing my taxes that I have been working 9 hours on.

Help

[DawnC]

If you are using TurboTax Desktop, go to Forms and fix box 32 on directly on Schedule C.   

If you are using TurboTax Online, you need to go back to your return, go Self Employed Income and Expenses, then edit your business.   On the business profile page, scroll all the way down until you see Other Situations and QBI - the risk question is in there.        Scroll past General, Income and Expenses and look for Final Details or Other Business Situations.   As long as you have the box checked for 'All not at risk', when you delete the form 6198, it will just regenerate.   You have to change your answer in the interview.    

[ForgottenShuriken]

Dont give up friend! I got it, follow this:
If you go back to your"income" tab on the left, and select "self employment income and expenses" select edit or review

click the pencil next to your business (it's next to the trash can)

scroll down to the bottom and click the pencil in the "Uncommmon situations" section

select the box that says "I have at-risk losses carrying over from last year"

Enter the losses that carried over from the previous year / follow what is in your documents. input what you have and hit continue

continue inputting your information until you get to the last question

On the last section, select the option "All of my investment in this activity is at risk"

make sure that bubble is selected and you should be registered for being "at risk" again.