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larsonwa
New Member

Is Tutbo Tax able to complete schedule C for Form 1040 as to Active Trader Business? Self employment tax is not assessed on income from an Active Trader Business.

 
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MichaelDC
New Member

Is Tutbo Tax able to complete schedule C for Form 1040 as to Active Trader Business? Self employment tax is not assessed on income from an Active Trader Business.

Yes. TurboTax is able to complete Schedule C as an Active Trader.

You may record your gains and losses on Schedule D and take any expenses on Schedule C, but that is the limit unless you choose the Mark to Market election in advance. Please see the information from Tax Topic 429.  https://www.irs.gov/taxtopics/tc429.html

Also, parts of this post may be helpful for your research.

https://ttlc.intuit.com/replies/4792724

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