GiseleD
Expert Alumni

Business & farm

Are you trying to say that you have total expenses of $109861 and a total profit of $161551 for a balance of $51690? If so, line 29 will not always equal the total net profit/loss. This is because line 29 is Tentative profit or (loss). This means that your business use of home expenses have not been factored in yet. Line 31 is the line that shows your final Net profit or (loss)

 

For more information, Schedule C can be found here

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