I'm trying to UNCHECK this box, because it says, "check this box if some of your investment IS NOT at risk" - as it's all my money, I understand it's ALL at risk, but I can't UNCHECK the box.
I go to FINE DETAILS under Business Income and Expenses, but when I try to fix it by checking NONE OF THE ABOVE, it stays STUCK on THIS answer: “I have money in this business that I am not at risk of losing; that is, certain cash, property, or borrowed amounts that are protected from loss”
I’ve tried to go back to checking NONE OF THE ABOVE and unchecking the other answer many times, but it doesn’t stay that way – any insights?
Thank you!
Do you have a Form 6198 for that business in your return? If so, delete it. Then try unchecking the box directly on Schedule C. Go into Forms Mode and uncheck it from there. The box is Line 32b on Schedule C.
Follow the steps here to delete a form in TurboTax online.