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Get your taxes done using TurboTax
Thanks, that is helpful. So when Turbotax asks if I have another business to add, that is the mechanism by which two schedule Cs will be generated? Expenses are well tracked and distinctly separate so entering the data in this manner would be straight forward. However, for this year our first flip showed room for improvement as it ended up in a loss while her agent business was more profitable and in line with past years. The results are what they are so I don't see a means to balance the two so based on your last insight it sounds like we should go with a combined schedule C (at least for this year) so as not to create such a disparity between the two with regard to the self-employment tax?
‎November 16, 2022
6:37 PM