turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I was surprised that my Schedule C net income is exactly $0. I tried to change some numbers in my home office deduction, and the net is still zero. Why??

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

I was surprised that my Schedule C net income is exactly $0. I tried to change some numbers in my home office deduction, and the net is still zero. Why??

Many Home Office deduction expenses CAN'T give your business a loss.  So with all of your Home Office expenses, you would have a loss, but that is not allowed so those unallowed expenses will be carried to future years until they can be used.

Another possibility for showing exactly $0 net income is that you checked the box that you are "Not At Risk", which also means that any excess expenses can not create a loss and they would be carried forward.  It is VERY unusual for a person to be "Not At Risk", so most likely you should say that you were "At Risk".

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question