Schedule C, Part 1, line 6 shows an amount I did not enter. Where did that come from?
Line 1 - $36,259
Line 2 - $25,000
Line 5 - $11,259
Line 6 - $4,779 - I did not enter this nor do I have a figure of that amount
Why is my income increased?
Line 6 is for Other Income.
If you didn't have
then line 6 may be depreciation recapture. If you've taken depreciation for listed property in previous years and business use has dropped below 50%, then the recapture amount is figured on page 2 of Form 4797 and added back into income.
If neither of these fit your business, post back to this thread.
Line 6 is for Other Income.
If you didn't have
then line 6 may be depreciation recapture. If you've taken depreciation for listed property in previous years and business use has dropped below 50%, then the recapture amount is figured on page 2 of Form 4797 and added back into income.
If neither of these fit your business, post back to this thread.
I have this same question. There is a value in line 6 that I did not enter. If it is depreciation recapture, where did TurboTax get that number? I did not enter it, nor do I have any official form from the IRS documenting such. There is no way, that I can find using the online Delux edition, to see the contents of 'Schedule 1'. It looks like TurboTax is generating random data if you can't see the contributing numbers!