Schedule C, line 32A is All investment is at risk. Each schedule C should have a check mark in box 32a or 32b.
In the tax world, "at risk" simply means that the business owner is personally liable for the business's losses. It has nothing to do with the business's chances of success or failure.
It's uncommon for Schedule C businesses to not be at risk, but this can happen if the business is funded with nonrecourse loans, money or property protected by a stop-loss agreement, or loans from a non-creditor who has an interest in the business. In those cases, the business owner is not allowed take a loss on money or property they weren't "at risk" of losing in the first place.
