turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

How can Schedule K loss offset Schedule C income?

I have a Schedule C income and a separate (but same business) Schedule K partnership loss on running the office for the business. How can I get the loss to offset Schedule C income, thus reducing SS tax I have to pay?

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

6 Replies

How can Schedule K loss offset Schedule C income?

The partnership losses on the K-1 and the Sch C income will net automatically on the Sch SE.

How can Schedule K loss offset Schedule C income?

Where does it "automatically" show up on the Sch C?

How can Schedule K loss offset Schedule C income?

Not on Schedule C but on Schedule SE for the self employment tax.

How can Schedule K loss offset Schedule C income?

Here is Schedule SE.  See page 2 line 2
<a rel="nofollow" target="_blank" href="https://www.irs.gov/pub/irs-pdf/f1040sse.pdf">https://www.irs.gov/pub/irs-pdf/f1040sse.pdf</a>

How can Schedule K loss offset Schedule C income?

Got it. THANKS. So obvious—now.

How can Schedule K loss offset Schedule C income?

Solved in comments

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies