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jdsalzillo
New Member

Schedule c self employed

My wife & I both have a small business and are filing 2 schedule c.

Her loss offsets my profit but we are getting taxed only on my profit.

Did I enter something wrong?

3 Replies
Cattlerancher
New Member

Schedule c self employed

Is this a qualified joint venture? Or do you have two separate schedule C businesses?
jdsalzillo
New Member

Schedule c self employed

2 seperate schedule c businesses.
Cattlerancher
New Member

Schedule c self employed

I believe her NOL should be offsetting your profit for federal income tax purposes but SE tax still applies to your profit. Perhaps that is what you are seeing?

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