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There is no guidance to say how much of a loss for your business is too much.  If the business is claiming only legitimate business expenses that are ordinary and necessary for a business similar to yours, then you should not be concerned about the amount.  If you did incur these expenses in the operation of your business, then you do need to claim them.     However, if your business continues to show a loss year after year, then the IRS could start to consider the business to be a hobby instead of a business.  That would mean that you would still report the income from your efforts, but you could not claim any expenses based on the current tax law.     To learn more, take a look at the following information from the IRS:   Here’s how to tell the difference between a hobby and a business for tax purposes  

You can request a Spanish speaking expert to help you with your return,  If you have not started your return this year, when you start your return, select TurboTax Experts product.  If you already started your return, open your return, select Live Tax, and then Upgrade.   How do I get TurboTax Experts?

Si. Debe declarar ese ingreso, incluso si es una cantidad pequeña. Para ingresarlo en TurboTax, redondéelo a $1. El reporte se deberá realizar dependiendo del tipo de formulario recibido, ya sea 1099-DIV, 1099-INT o 1099-B.

Mientras la persona que te lleno tus impuestos el año pasado este disponible, puedes solicitar hablar con él o ella.      Si no has comenzado tu declaración de este año, elige un producto de TurboTax Experts. Si ya comenzaste, abre tu declaración de impuestos, selecciona Asesoramiento tributario en línea, selecciona Actualizar.     ¿Cómo obtengo los servicios de expertos de TurboTax? ¿Qué es TurboTax Expert Full Service?  

The property was a neon sign that I abandoned when I closed the business. The business was a single-member LLC that for tax purposes was treated as a sole proprietorship. The cost was $1717 on 10/3/23. I took Section 179 for $1374 in 2023 + $4 reg depreciation then another $34 depreciation in 2024. I didn't see anything in my 2023 taxes about Bonus depreciation.   AI thinks that since property was used up to the day I closed the business and it was not sold that I'm exempted from recapture and I just show a loss for the remaining undepreciated value. This was quite confusing to do in Turbo Tax because of how the interview questions were worded so it took a help call and some playing around to realize that the first question about sold/abandoned should be yes but the next questions about sold/used less than 50% should be No and then I still had to click into the forms and delete one that was created from my mistaken answers (just deleting the asset and restarting didn't delete that old form) and then go into another form and uncheck a box to get it to work. I did this for federal but was confused that SC was a different amount. Initially I thought it was doing recapture (adding to income) but then realized it was a bigger loss because as Roger mentioned SC doesn't conform to Section 179 and so I had taken less depreciation and now had a bigger state loss than federal. I think I'm good now but wanted to leave the detail for any others who might stumble upon the post.

Use these steps to enter state tax withholdings reported on your K-1:   Go to Deductions and Credits > Estimates and Other Taxes Paid > Other Income Taxes and click Start or Update.   Then scroll to Other Income Taxes Paid in 2024. Click Start or Update beside Withholding not already entered on a W-2 or 1099. Answer Yes, and then enter the amount under State Withholdings.    

If you have filed the 2025 tax return the tax refund advance option is no longer available.   Otherwise, see this - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/refund-advance/L52Mg0G5u_US_en_US

I have this same type problem where on my MI Homestead Property Tax Credit form it's not showing my correct zip code.  It's showing a dash and the 4 digit additional code.  I was not prompted to change this (like the OP was), so how do I correct this?  I'm not seeing anywhere to do this on the MI portion (I'm using TurboTax online).  My correct full zip code is included in the main portion of TurboTax at the beginning.  Please advise.  Thank you!!