wirtz10
New Member

Turbo tax is not deducting my business expenses from my income

I have around 9,000 in business expenses and when I get the review portion of the return it doesn't reflect any of it.

Business & farm

You're not trying to deduct  them as Schedule A itemized deductions by mistake,  are you?  They go here:

Where do I enter my self-employment business expen... (intuit.com)

And did you check All investment is at risk.

wirtz10
New Member

Business & farm

No I have them in a schedule C.

DianeW777
Expert Alumni

Business & farm

The expenses will automatically be used on your Schedule C in full as long as you have answered the questions correctly in the General Info section. The most important question being whether you actively participated and then if all of your investment is at risk noted by @SweetieJean.

  1. Open your TurboTax Return 
  2. Search (upper right) for schedule c > Press enter  > click the Jump to link in the search results

  3. Edit beside your business > Edit beside General Info

  4. Scroll to Other Situations > Edit under Actively Participated in this Work to select 'Yes'

  5. Next on the 'Here's your info for this work' page scroll to Uncommon Situations

  6. Select Edit next to 'Carryovers, limitations, at risk information, etc.'

  7. Make sure you do not have a check box selected that is incorrect on this page 'Do you have any of these other business situations?'

    • Most importantly the 'at-risk' question- 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

    • You can use this link to become more familiar with what 'At-Risk' really means: Is my investment at-risk?

  8. See the image below.

Lastly, it's important to clear cache, cookies and browsing history on a regular basis to remove pieces of information you thought should be gone in the back ground.  It helps more often than not.

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