@Spires34 wrote:
@Opus 17 Just now seeing your second 'let me clarify' post. Thanks! So I just continue along in turbo tax, and they will generate some additional section for me to fill out since I have had overall NOL?
If you do have an NOL, Turbotax will report it for you.
For each schedule C, list your 2021 income and your 2021 expenses (expenses actually paid in 2021).
If job A had $5000 in expenses and no income, that's a $5000 loss. If job B had $2000 income and $1000 expenses, that's $1000 profit, and you have a $4000 NOL that will be carried forward to next year.
On the other hand, if job A had a $5000 loss and job B had a $6000 profit, then you have overall $1000 of taxable income for the year and no loss to carry forward.
