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Level 2
February 28, 2021
Question

Error in Schedule C

  • February 28, 2021
  • 3 replies
  • 12 views

I have an error in Schedule C that I cannot get rid of. I have three lines that appear to be blank, with zeros in the dollar amounts. This has carried over for several years. I cannot get rid of it. The error says that "Other Expense Text is invalid. Please remove all preceding spaces or invalid characters". I have hit the delete key and the backspace key repeatedly in those blank description lines, and tried to delete the zeros. No dice. I have three errors, on three separate lines.

3 replies

JWidmannAuthor
Level 2
March 1, 2021

This is in Part V "other expenses", in the Olympic and Paralympic Prize Money Smart Worksheet. I have never been in the Olympics or Paralympics. 

AkinaLO
Level 15
March 5, 2021

It could be a worksheet associated with your Schedule C. You can view your Schedule C worksheets and delete the ones that may have been added accidentally.  

Please be careful because deleting a worksheet is permanent.

 

Here's an article that will show you how to view and delete forms. 

How do I delete a tax form in the TurboTax CD/Download software? 

 

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Level 2
April 4, 2021

Please help.  I am getting an error message on Schedule C, Part V, Olympic and Paralympic Smart Worksheet.  the amount is 0.00 but the description line is highlighted in yellow.  I have deleted anything that could possibly be there about 10 times, resaved the form and can't find anything that will get rid of the error message.  There is nothing there.  It is on a  Schedule C for a Dental practice.  There has never been anything there in the past........

I AM FRUSTRATED!!!!!!   I can't delete the Schedule C because it is legitimate.

PLEASE HELP SOMEBODY!!!  I HAVE SEEN THIS SAME MESSAGE TIME AND TIME AGAIN AND THERE IS NO SOLUTION LISTED!!!!

Level 2
January 28, 2022

I have Paralympic Games prize money and would like to exclude it. How do I do so? 

Level 11
January 28, 2022

 

If your adjusted gross income is not more than $1,000,000 ($500,000 if married filing separately), the value of Olympic and Paralympic medals and United States Olympic Committee (USOC) prize money you receive are non-taxable.  While such amounts are non-taxable, the value of the medals and prize money will appear on line 8l of Schedule 1 to the Form 1040; however, the Form 1040 will reflect that the income is non-taxable.

 

Here are the steps to follow when entering your Paralympic prize money.  These steps assume you received a 1099-Misc in connection with your Paralympic prize money.  If you did not receive a 1099-Misc, contact the Committee that sponsored the event because you will need their federal ID number when responding to questions in TurboTax. 

 

  1. After signing in to TurboTax, enter "1099 Misc" in the search bar (upper right side of the page)
  2. You will see 1099-Misc appear in the list of searches, click on it, then click on the jump to link.
  3. Now you should be on a page where you can enter information about your 1099-Misc.
  4. Click Continue to move through the application.
  5. On the page "Does one of these uncommon situations apply,?" click on the entry relating to Olympic/Paralympic prize money.
  6. You will then see a link to a page to learn more about excluding this type of income from tax.  Disregard it, and just continue through the application.
  7. At the end of this section, click Done.

After you have completed your entries, review your Form 1040 to ensure the Paralympic prize money has not been taxed.  If you are using TurboTax Online, here are the steps to follow to preview your Form 1040:

 

         1. Open or continue your return.

         2. Select Tax Tools in the left menu (if you don't see this, select the menu icon in the upper-left corner).

         3. With the Tax Tools menu open, you can then:

             a. View only your 1040 form: Select Tools. Next, select View Tax Summary in the pop-up, then Preview my                                     1040 in the left menu.

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Level 2
January 26, 2023

thank you george for that ansewer.

 

i am also having an issue with form 1099-k where turbo tax is asking me to take Box 1 number and move it to shedule c line. 

 

i do that but it goes back to "needs review " and i start the process over again. either there is a turbo tax glitch or i am not doing it correctly.

 

there is nothing else i can "click on the form accept "schedule C"

 

Please Advise and thank you for all your help

 

Jeff

Level 2
March 19, 2024

erors say please remove all preceding spaces or invalid character

  Other expenses text is invalid for electronics filing. How do I correct it??

I try deleting the line and removing the line and I still get the same message when I run the 

fed review

Level 15
March 19, 2024

When you enter the numbers into schedule C you have to be careful not to type any spaces or periods or anything in there.  The system reads every entry as a number and those spaces and other characters can't be added up.  So you need to go through every entry you made into the schedule C and be sure that you haven't entered anything but numbers into the blanks.

 

@ldymes2 

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