Skip to main content
TurboTax
Community
TurboTax
TurboTax
D
dufferboy10
Level 2
October 1, 2019
Question

Form 1120

  • October 1, 2019
  • 2 replies
  • 0 views

My business shows a loss on Form 1120 but it shows up as income on my 1040. Turbo Tax will not let me change it to show a loss. How do I show a loss on 1040 from 1120?? Any help appreciated.

2 replies

Critter
Critter
Level 15
October 1, 2019

Do you mean a K-1 form from an 1120-S?  Because nothing from an 1120 C-Corporate return touches a personal form 1040. 

A
Anonymous
October 1, 2019

if it is an 1120-S, there is an issue as to whether you are at risk  and have basis to take the loss.     these are questions we can't answer.   

D
dufferboy10Author
Level 2
October 2, 2019

Thanks. Still need to know why it is showing loss on 1120 as income on 1040. Can that be changed?? If so how?

Rick19744
Level 13
Rick19744Level 13
Level 13
October 2, 2019

You need to respond to @Critter 's question as this is key to responding.

Are you referring to a form 1120 (regular corporation) or an 1120-S (an S corporation).  If the later, you should also have received a schedule K-1.

*A reminder that posts in a forum such as this do not constitute tax advice.Also keep in mind the date of replies, as tax law changes.
TurboTax flag icon

Unlock tailored help options in your account

Create an account
TurboTax Expert Assist
TurboTax Expert

Get answers to all your tax questions

Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

Explore your options
Terms & ConditionsAccessibility statement
Sitemap
Intuit
TurboTax Credit Karma QuickBooks MailChimp

©1997-2026 Intuit, Inc. All rights reserved.
Intuit, QuickBooks, QB, TurboTax, Credit Karma, and Mailchimp are registered trademarks of Intuit Inc. Terms and conditions, features, support, pricing, and service options subject to change without notice.

Security Certification of the TurboTax Online application has been performed by C-Level Security.

By accessing and using this page you agree to the Terms of Use.

About Cookies Manage cookies

TRUSTe nResult Certified e-File C-Level Security Certification
Intuit
TurboTax Credit Karma QuickBooks MailChimp

© 2026 Intuit Canada ULC or its affiliated companies. All rights reserved. Intuit, QuickBooks, QB, TurboTax and ProFile are registered trademarks of Intuit Inc. Terms and conditions, features, support, pricing, and service options subject to change without notice.

Copyright © Intuit Canada ULC, 2026. All rights reserved.

About Cookies Manage cookies Privacy setting

Intuit
TurboTax Credit Karma QuickBooks MailChimp

© 2026, Entreprises Intuit Canada ULC ou ses sociétés affiliées. Tous droits réservés. Intuit, QuickBooks, QB, TurboImpôt et ProFile sont des marques déposées d’Intuit Inc. Les modalités, prix, fonctions et options de service et de soutien peuvent changer sans préavis.

© 2026, Entreprises Intuit Canada ULC. Tous droits réservés.

À propos des témoins Gérer les témoins Privacy setting