I have more expenses than income as self employed. Terbo Tax shows $0 in taxable income but it does not show a loss? Why not?

sslein · ‎February 24, 2025

ThomasM125 · ‎February 24, 2025

That can happen if you don't indicate that you are "at risk" in the business or that you don't materially participate in the business. You will see questions regarding those things when you work through the business entries in TurboTax.

When you edit your Business Profile make sure it says you Actively Participate in the venture:

On the screen that says Your (name of business) Business, click on Special Situations:

Makes sure the box that says I have money invested in this business that I'm not at risk of losing, etc... is not checked:

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I have more expenses than income as self employed. Terbo Tax shows $0 in taxable income but it does not show a loss? Why not?