in [Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill (OBBBA)
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Ok here are the steps for prior year online returns. Don't know if they still work for 2020. 2 ways to get there
Go to the Search box in the upper right and type in Schedule C
Then click on Jump to Schedule C
Click on Edit or Review by your Business name
Go to Uncommon Situations - click Edit or Start
Make sure the 5th box is NOT checked for "I have money invested in the Business that I'm not at risk of losing" and probably check the None of Above Box.
then Continue
OR
Click on Federal on the Left side
Income & Expenses at the top
Self Employment (2nd item in listing) click on Start or Show More/Start or Review
Click Review by your Business name
Scroll down to Uncommon Situations - Click Start or Edit
Make sure the 5th box is NOT checked for "I have money invested in the Business that I'm not at risk of losing" and probably check the None of Above Box.
then Continue
To change your entry regarding "All investment is at risk." vs. "Some investment is not at risk.", while working in your return, click on "Forms" in the upper right hand corner of your screen. On the left of your screen, under "Forms in My Return", scroll down to "Schedule C..." and click on it. Schedule C will open up on your screen. Scroll down until you get to line 32, and then mark the appropriate box.
The original poster showed the ONLINE version so your DOWNLOADED version answer may not be understood ... so either pay attention to the poster's version OR couch your answer by adding " when using the downloaded version this is what you can do ..."
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