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hnaniche
New Member

need help putting business losses or write offs in

I was not paid for a service provided where do I place that loss?
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2 Replies

need help putting business losses or write offs in

Are you filing as a self employed/independent contractor?   If you are filling out Schedule C for self employment income you can write off your expenses.

 

You can enter 1099NEC or cash Self Employment Income into Online Deluxe  but if you have any expenses you will have to upgrade to the Premium version.  Or use any of the Desktop programs.

 

Where to enter expenses in the Online Premium version

https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/enter-self-empl...

 

 

Here is some IRS reading material……

 

IRS information on Self Employment

http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Self-Employed-Individuals-Tax-Center

 

Pulication 334, Tax Guide for Small Business

http://www.irs.gov/pub/irs-pdf/p334.pdf

 

Publication 535 Business Expenses

http://www.irs.gov/pub/irs-pdf/p535.pdf

 

need help putting business losses or write offs in

Oh, just reread your post.  Sorry No you can not write off income you never received.  Not unless you already included it as income first.  You can't deduct income you never received.  You will just have less income to be taxed on.  You take the loss by still deducting all your actual expenses.

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