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Get your taxes done using TurboTax
Q. So for next year return can I file schedule C and offset the profit against my Schedule E loss?
A. Simple answer: Yes.
Your profit from Schedule C transfers to form 1040, as does your loss from Schedule E (as does your gain/loss from Schedule D and your interest/dividends from Schedule B), where they are combined or offset. If your are subject to any limitations, TurboTax will do those calculations.
‎September 13, 2023
9:49 AM