topic Schedule c self employed in Business & farm

Schedule c self employed

jdsalzillo — Thu, 06 Jun 2019 10:40:00 GMT

My wife & I both have a small business and are filing 2 schedule c.

Her loss offsets my profit but we are getting taxed only on my profit.

Did I enter something wrong?

Is this a qualified joint venture? Or do you have two sep...

Cattlerancher — Thu, 06 Jun 2019 10:40:02 GMT

Is this a qualified joint venture? Or do you have two separate schedule C businesses?

2 seperate schedule c businesses.

jdsalzillo — Thu, 06 Jun 2019 10:40:02 GMT

2 seperate schedule c businesses.

I believe her NOL should be offsetting your profit for fe...

Cattlerancher — Thu, 06 Jun 2019 10:40:04 GMT

I believe her NOL should be offsetting your profit for federal income tax purposes but SE tax still applies to your profit. Perhaps that is what you are seeing?