Why is there a negative income amount under my self-employment income and expenses section

 
KrisD15
Expert Alumni

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You must have had more expenses than revenue and are claiming a loss. 

 

 

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Get your taxes done using TurboTax

Can I let this there or do I need to fix it some how?

AliciaP1
Expert Alumni

Get your taxes done using TurboTax

If you are certain you have entered your income and expenses correctly you can leave the loss there.

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View solution in original post

Get your taxes done using TurboTax

It's ok to show a loss on Schedule C.  It will be deducted from all your other income.   It's a good thing, for taxes at least.   Not for your business if you aren't making a profit.