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Is anyone having trouble with business expenses and income not updating?

When adding expenses and income my totals remain at zero. I have closed out and re-opened Turbotax several times. Nothing updates. Tax due/refund amount remains the same also.
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2 Replies
Cynthiad66
Expert Alumni

Is anyone having trouble with business expenses and income not updating?

Let's try clearing your cache' cookies and history then reboot.

 

Cookies are small files that temporarily store data on your computer. We use them to personalize your experience so you see information you already entered and not items that are irrelevant or repetitive.

On rare occasions, they may make your browser think you already did something that you still need to do. To fix that, you'll need to delete (clear) the cookies from your browser.

Each browser has a slightly different method for deleting cookies. Choose the browser you're using:

If this does not help try deleting the business income and expenses then re-enter.

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Is anyone having trouble with business expenses and income not updating?

If you are not showing a loss on Schedule C.
Some expenses, such as home office or section 179 depreciation can only be used to reduce your schedule C taxable income to zero, and not to create a loss. Excess deductions for these carry over to the next year. And you have to answer yes to both questions about exclusive and regular use, not just one. The area of your home office must be used regularly and exclusively for business to deduct it.

 

Or you checked the box on 32b saying Some Investment is Not at Risk.

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