Skip to main content
Level 2
June 6, 2019
Question

Schedule c self employed

  • June 6, 2019
  • 3 replies
  • 15 views

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

Level 2
June 6, 2019
2 seperate schedule c businesses.
Level 7
June 6, 2019
Is this a qualified joint venture? Or do you have two separate schedule C businesses?
Level 7
June 6, 2019

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?