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?
03723
3 Replies
Cattlerancher
New Member
Jun 6, 2019 3:40:02 AM
Is this a qualified joint venture? Or do you have two separate schedule C businesses?
jdsalzillo
New Member
Jun 6, 2019 3:40:02 AM
2 seperate schedule c businesses.
Cattlerancher
New Member
Jun 6, 2019 3:40:04 AM
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?