Here's the general procedure for viewing the forms...
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

We have an S corp, and the taxes have already been filed. Why is Turbotax trying to fill out a schedule C? We had a net loss last year.

My specific question relates to Section L on schedule C.  I'm getting a reminder that it needs attention.  I've already had an accountant file the business tax this year so I could determine net gain (loss) in order to report on our personal taxes.  This is the 1st time I've used Turbotax.

5 Replies
New Member

We have an S corp, and the taxes have already been filed. Why is Turbotax trying to fill out a schedule C? We had a net loss last year.

The accountant should have provided you with a K-1 for the S-corp to tell you how much profit or loss to enter into TurboTax. You should not be using the business schedule C for this purpose. Look in the Income section for K-1 and enter the information there.

New Member

We have an S corp, and the taxes have already been filed. Why is Turbotax trying to fill out a schedule C? We had a net loss last year.

I see the k-1, but turbotax won't let me do away with the schedule C.  I deleted the income info (loss) and  our refund plummeted.  How do I show the negative income on our return?
New Member

We have an S corp, and the taxes have already been filed. Why is Turbotax trying to fill out a schedule C? We had a net loss last year.

The only option I've been able to do is to mail in my return.  It won't let me e-file
New Member

We have an S corp, and the taxes have already been filed. Why is Turbotax trying to fill out a schedule C? We had a net loss last year.

I was able to get some online help and deleted the schedule C and replaced it with k-1.  Thanks for the help.  I would have never found the k-1.
New Member

We have an S corp, and the taxes have already been filed. Why is Turbotax trying to fill out a schedule C? We had a net loss last year.

Here's the general procedure for viewing the forms list and deleting unwanted forms, schedules, and worksheets in TurboTax Online:

  1. Open your return in TurboTax. (To do this, sign in to TurboTax, and select Take me to my return.)
  2. In the left-side menu, select Tax Tools > Tools.
  3. In the pop-up window Tool Center, choose Delete a form.
  4. Select Delete next to the form/schedule/worksheet in the list and follow the onscreen instructions
Dynamic Ads
v
Privacy Settings