Schedule C box 32a comes into play only if your Schedule C business is showing a loss.
To review whether or not all of your investment in the business is at risk in this situation, use the following steps when using the Home and Business desktop version of TurboTax:
- Go to your Schedule C business input screens
- Go to Final Details > Special Situations and click Start or Update
- Check the box labeled 'I have money invested in this business that I'm not at risk of losing...' if this situation applies to you
When the box described above is checked, then Schedule C line 32b will be checked and you will need to enter further information about your investment in the business. Otherwise, Schedule C line 32a will be checked when there is a loss.
If you are using TurboTax Online, use the following steps :
- Go to your Schedule C business input screens
- Go to Uncommon Situations and edit this section
- Go to the screen titled 'At-Risk Limitations' to check the box that matches your situation to fill in Schedule C box 32 properly
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