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The inability to deduct losses generally comes from your response to one or two questions in the Schedule C interview.
First, please review the "At Risk" selections in your Schedule C interview. If you have accidentally chosen "Not at risk," you are not able to deduct the losses from your business. (It is very uncommon for a Schedule C filer to be "Not at risk," which basically means that you can't lose money on your business.)
To get to the "At Risk" questions,
Second, be sure that you have correctly marked the "Active Participation" question in the Business Profile section. You are, as an artist, most likely actively participating in your business. Do not check the box that says you are not.
The inability to deduct losses generally comes from your response to one or two questions in the Schedule C interview.
First, please review the "At Risk" selections in your Schedule C interview. If you have accidentally chosen "Not at risk," you are not able to deduct the losses from your business. (It is very uncommon for a Schedule C filer to be "Not at risk," which basically means that you can't lose money on your business.)
To get to the "At Risk" questions,
Second, be sure that you have correctly marked the "Active Participation" question in the Business Profile section. You are, as an artist, most likely actively participating in your business. Do not check the box that says you are not.
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