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Schedule c self employed
My wife & I both have a small business and are filing 2 schedule c.
Her loss offsets my profit but we are getting taxed only on my profit.
Did I enter something wrong?
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June 6, 2019
3:40 AM
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Business & farm
Is this a qualified joint venture? Or do you have two separate schedule C businesses?
June 6, 2019
3:40 AM
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Business & farm
I believe her NOL should be offsetting your profit for federal income tax purposes but SE tax still applies to your profit. Perhaps that is what you are seeing?
June 6, 2019
3:40 AM