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Business & farm
Just enter your income and expenses. While you can have an off year where your income is less than your expenses, the IRS will expect to see a profit. If you don't start to show one, the IRS will consider this a hobby and you will be disallowed from taking expenses.
Follow these steps to go to the Schedule C section of your return:
On the top right corner of TurboTax online screen, click on Search (or for CD/downloaded TurboTax locate the search box in the upper right corner).
- Type in “schedule c” (or for CD/downloaded TurboTax, click Find).
- Click on “Jump to schedule c”.
- Click on the blue “Jump to schedule c” link
April 12, 2022
9:41 AM