To report at-risk loss carryovers in TurboTax Online Self-Employed, follow these steps.
- Click on Federal down the left hand side of the screen.
- Click on Income & Expenses across the top of the screen.
- Under Your income and expenses you will find Self-employment income and expenses.
- Click on Edit/Add to the right.
- Edit the self-employment activity.
- Scroll down to Carryovers, limitations, at risk. Click Edit to the right.
The at-risk rules prevent taxpayers from deducting more than their actual stake in a business. See also this TurboTax Help.
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