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Business & farm
Line 32a on Schedule C indicates all investment is ''At-Risk''. You can follow these instructions below to change this entry in TurboTax Online:
- Open your tax return
- Type “sch c" in the search box, top right of your screen, then hit enter
- Click the "jump to sch c" link in the search results.
- You will arrive at the Your Self-Employed work summary
- Click Edit next to the business where you need to make a change
- Scroll down to Uncommon Situations (it is right under the list of expenses) and click Edit
- Uncheck the box that says - I have money invested in this business that I'm not at risk of losing; that is, certain cash, property, or borrowed amounts that are protected from loss.
- If you have no boxes checked, choose none of the above and hit Continue
This will move the checkmark from 32b to 32a.
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July 15, 2020
5:05 PM