Small Business, Farm & Startup Tax Forum

Business & farm

Quick Links for Self-employed & Gig Workers!

Having a business is both exciting and rewarding! But it can be confusing if you don’t know what it means for your tax returns. Whether you’re starting off and plan to conquer the world with your new business, have a side gig for a little extra cash,... read more

K-1 (form 1041)

form 1041 K-1 has box 14* ZZ information: "PASSIVE CAPITAL GAIN INCLUDED IN BOX 4A" Where does this amount get entered?

Why is the last entry on PA schedule D not displaying the net loss/gain. It is implied because line 2 shows the correct total.

How can I edit schedule 1 line 26

Rejected

SMLLC in NYC - Did I pay unincorporated business tax?

Hi All,In 2023 I opened a SM- LLC and filed using Turbo-Tax. I live and work from home in NYC so I was very careful when I chose NYC during the filing process. In my 1040, I can see my Schedule-C.However, I talked to a real accountant which told me t... read more

Schedule A lists 2023 Jan 1 - Dec 31 twice. How do I delete the second line?

Got an error message during smart check schedule E fed profit loss needs to be entered? how to fix that?

The state form for Turbo tax says that my state ID can be a maximum of 9 characters. My state ID has 11 characters. 11 characters worked last year. How do I fix this?

The software won't let me skip the who experienced business identify theft question even though none of us did! What do I do?

I had answered yes before and then went back and changed it and now it won't recognize my no!

Turbotax does not include unadjusted basis of home office in UBIA

I am self-employed, with a non-SSTB business that I operate out of my home. In determining the QBI deduction, Turbotax does not seem to include the unadjusted basis of home as part of the UBIA. This part of TT is rather opaque, but I have deduced tha... read more

Where do I enter the 1065 k-1 issued to a single member S corp on the 1120s return?

Where do I enter the 1065 k-1 issued to a single member S corp on the 1120s return? The 1065 k-1 only has data on line 1 for Net loss for the year. Since the s corp is single member pass through to my personal return do I enter on the 1120s or direct... read more

Why does my California return have a Schedule C for my LLC in another state but that state doesn't have Schedule C?

I am a resident of California, but I have an LLC in Colorado. In past years, I have had no problem, but this year, TurboTax kept considering the LLC to be in California and added a Schedule C under California instead of Colorado. I have told TT that ... read more

Were do i enter my entertainment expenses?

Were do I enter my personal entertainment expenese?

Where is mygross compensation code

How do I get rid of the Form 8919-T Questions? I don't qualify as a person who is required to file according to the list provided by the IRS. Do I just leave it blank?

Turbotax is asking me to file the Form 8919-T but I don't qualify under these reasons:You must file Form 8919 if all of the following apply:- You performed services for a firm.- You believe your pay from the firm wasn't for services as an independent... read more