We have an S corp, and the taxes have already been filed. Why is Turbotax trying to fill out a schedule C? We had a net loss last year.

[greasemonkey347]

My specific question relates to Section L on schedule C.  I'm getting a reminder that it needs attention.  I've already had an accountant file the business tax this year so I could determine net gain (loss) in order to report on our personal taxes.  This is the 1st time I've used Turbotax.

[MaryEllen]

The accountant should have provided you with a K-1 for the S-corp to tell you how much profit or loss to enter into TurboTax. You should not be using the business schedule C for this purpose. Look in the Income section for K-1 and enter the information there.

[greasemonkey347]

I see the k-1, but turbotax won't let me do away with the schedule C.  I deleted the income info (loss) and  our refund plummeted.  How do I show the negative income on our return?

[greasemonkey347]

The only option I've been able to do is to mail in my return.  It won't let me e-file

[greasemonkey347]

I was able to get some online help and deleted the schedule C and replaced it with k-1.  Thanks for the help.  I would have never found the k-1.

[MaryEllen]

Here's the general procedure for viewing the forms list and deleting unwanted forms, schedules, and worksheets in TurboTax Online:

1. Open your return in TurboTax. (To do this, sign in to TurboTax, and select Take me to my return.)
2. In the left-side menu, select Tax Tools > Tools.
3. In the pop-up window Tool Center, choose Delete a form.
4. Select Delete next to the form/schedule/worksheet in the list and follow the onscreen instructions