topic Schedule C #32a is checked. I need to uncheck the box. What do I do? in Business & farm

Schedule C #32a is checked. I need to uncheck the box. What do I do?

maphifer — Mon, 03 Jun 2019 19:17:53 GMT

Clergy with a loss on schedule C. Nothing is at risk according to the IRS definition, but in reviewing the computer generated forms, #32a is checked, indicating that "all investments are at risk". This is untrue. I am using Turbo Tax Free Edition online. There is not a "details" section to make corrections under Business. How do I "uncheck" this box?

To change the At Risk box 32 on Schedule C Go to Business...

JulieH1 — Mon, 03 Jun 2019 19:17:55 GMT

To change the At Risk box 32 on Schedule C
Go to Business tab-Continue
Choose Jump to Full List -or I'll choose what I work on
Then…
Business Income and Expenses- Click the Start or Update button

You should see the Business Summary page that lists your businesses

Then click EDIT by the business name and the next screen should be a list of topics,
Business Profile, Income, Inventory/Cost of Goods Sold, Expenses, Assets, and Final Details last.

Scroll down to Final Details - Click Edit by Special Situations

Make sure the 6th box on the next screen is BLANK. It says...I have money invested in this business that I'm not at risk of losing. And if you don't have any other boxes on that screen checked then click the last box for None of the above.

Then hit Done on the Summary screen which will bring you back to the Topic listing and hit Continue at bottom.

Then you will get a Business Summary screen listing your business - Click Done
Then you will see the Topic listing again but this time it should say Done with Business at the bottom.

I am using the Turbo Tax Free Edition. I get to the Edit...

maphifer — Mon, 03 Jun 2019 19:17:56 GMT

I am using the Turbo Tax Free Edition. I get to the Edit business name with the list of Income and Expenses, Unusual situations and a Business Summary. There is no "Final details" section

Re: To change the At Risk box 32 on Schedule C Go to Business...

synewman — Sun, 02 Apr 2023 17:45:49 GMT

I'm following the instructions to remove the the Box I (my Investment is not at risk) in the Schedule C, however it will not remove the check mark and defaults back to the check mark, giving me the error?

Re: I am using the Turbo Tax Free Edition. I get to the Edit...

JohnW152 — Sun, 02 Apr 2023 18:12:09 GMT

Try this to change your at-risk answer in TurboTax Online:

Open your return in TurboTax
Select Continue or Pick up where you left off
In the left pane, select the Tax Tools dropdown
Select Tools
Select the Topic Search box and type in schedule c
Select schedule c, and select GO
On the Your 2022 self-employed work summary page, select Review below the relevant work item
On the next page, scroll down to Uncommon situations and select Start or Edit
On the Do you have any of these other business situations? page, you be able to edit your at-risk information

@synewman