A self-employment activity may report a loss but the loss is computed by reporting expenses that exceed income. You are not allowed to report a negative income item. However, you may report a refund of income received.
To add a self-employment expense, follow these steps:
- Down the left side of the screen, click on Federal.
- Across the top of the screen, click on Wages and Income.
- Under Your income, scroll down to Self-employment. Click Show more.
- Click on Start / Edit/Add to the right of Self-employment income and expenses.
- At the screen Your self-employed work summary, click Edit to the right of the activity.
- At the screen Here's your info, scroll down the expenses and click Add expenses for this work.
- Follow the directions to enter the expense.
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