topic Adjustment to long form in Get your taxes done using TurboTax

Adjustment to long form

ymsmiley — Tue, 18 Feb 2020 23:46:00 GMT

Smartcheck asked if my investments were at risk and I said no and saved. I then looked it up later and realized I should've said yes. I only caught that it was "Box 32a" on the long form and I can't find it in TT. How do I go back and change that?

Re: Adjustment to long form

ymsmiley — Fri, 21 Feb 2020 19:02:48 GMT

No one has any suggestions? Can any TurboTax Experts please chime in?

What I found out is that most small side businesses (non-pass through), like my small LLC, are at risk since they are self-funded, which mine is. I want to change this but can't find where that is located. I only know it Box 32a in the long form.

Please help. Thank you

Re: Adjustment to long form

KarenM90 — Fri, 21 Feb 2020 23:32:06 GMT

You can edit box 32A as follows:

Go to Business Income and Expenses- Click the Start or Update button

You should see the Business Summary page that lists your business.

Then click EDIT by the business name and the next screen should be a list of topics,
General Info, Income, Expenses, Carryovers, limitations, at Risk Info, Qualified Business Income, 2 Year Comparison

Select Carryovers, limitations, at-risk information, etc, Edit/Update

Uncheck the box indicating that you have money Not at Risk.