- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
I'm using Turbo Tax Home & Business. I was employed full time up until 2018 and have always filed a 1040. When I started my business in 2005 and got my client the next year I still filed a 1040 and included my business profit and expenses. That profit was always less than my full time job but definitely enough that I needed to claim. Now that I still have the business but currently no income from it, are you saying I don't need to include anything about the business? I included it last year. The loss amount does show on line 8 of the 2040 as a negative amount. Included with my 1040 was Schedule 1 showing the negative amount and Schedule C showing the expenses and loss. Please forgive the continued posts, I'm hearing different responses and just trying to piece it altogether. Thanks!