My wife & I both have a small business and are filing 2 schedule c.
Her loss offsets my profit but we are getting taxed only on my profit.
Did I enter something wrong?
You'll need to sign in or create an account to connect with an expert.
I believe her NOL should be offsetting your profit for federal income tax purposes but SE tax still applies to your profit. Perhaps that is what you are seeing?
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
mootzie
Level 2
star_lynxra7h42m
New Member
15f09dfb8616
New Member
David2024
Level 2
dbrodt244
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.