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Business & farm
I believe something has been input incorrectly.
While it may be a coincidence, based on your facts, your initial AGI of $110,000 compared to the AGI with your Sch C information of $129,000, this difference, is the same as your current year purchases of $19,000.
Based on your facts, I agree that your AGI should be the $112,000 (sales of $5,000 less CGS of $3,000 = $2,000).
I recommend eliminating all the information you have input for your Sch C and begin again going through the Q&A step by step. While the difference of $19,000 may just be a coincidence, I'm not sure that is the case here.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
Also keep in mind the date of replies, as tax law changes.
‎June 15, 2021
7:24 AM