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Level 2
posted Mar 19, 2020 10:49:46 AM

Can I bring up a Schedule C form?

I have a business loss carryover to report.  I have no income, the business has been closed for years, so only need to report the allowed amount of $3,000.  Can I bring up the Schedule C form without income?

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2 Replies
Expert Alumni
Mar 19, 2020 11:11:40 AM

Are you referring to a capital loss carryover on Schedule D?  Routinely only $3,000 of such a loss can be offset against the current year’s income.  To access this information, follow these steps.

  • Down the left side of the screen, click on Federal.
  • Across the top of the screen, scroll down to Capital Loss Carryover.
  • Click on Edit/Add to the right.

See also this TurboTax Best answer.

Level 15
Mar 19, 2020 1:17:18 PM

Please stick to one post.

https://ttlc.intuit.com/community/business-taxes/discussion/where-on-the-turbo-tax-form-do-i-enter-a-business-loss-carryover/01/1333934

 

Any business losses on Schedule C would have been reported many years ago, with no carryover.

 

Your comment about a $3000 loss implies a capital loss, but that is NOT a loss from a business.

 

As I said in your other post, you need to provide details about EXACTLY what this loss was from, as your questions don't make sense.