ColeenD3
Expert Alumni

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).

  1. Type in “schedule c” (or for CD/downloaded TurboTax, click Find).
  2. Click on “Jump to schedule c”.
  3. Click on the blue “Jump to schedule c” link