@ wmad1975 wrote:
In 2019, I had Profit or Loss from Business and reported in Schedule "C" - how do we report similar activity in 2020 Premium version of Turbo Tax?
This is a small home business and did not do too well in 2020
Online Premier can only handle a Schedule C if there are no expenses. If you have any Schedule C expenses associated with your self-employed business, you would need to upgrade to Self-Employed Edition.
In your other thread, you said you switched from 2019 desktop TurboTax last year to 2020 Online TurboTax this year. If you transfer the *.tax2019 data file into Online TurboTax, you will have some continuity between your 2019 Schedule C and 2020 Schedule C as well as other transferred data. I left you those instructions in your other thread at:
https://ttlc.intuit.com/community/taxes/discussion/how-do-i-import-form-1116-data-of-prior-year-into...
NOTE: When you clear your return and transfer the *.tax2019 data file, you can then select Self-Employed Edition for the new return if you have a Schedule C business that has expenses to report.
