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djpedi
New Member

It's not showing my farm loss I'm not sure what I've done.

 
1 Reply
DianeW
Expert Alumni

It's not showing my farm loss I'm not sure what I've done.

You may have selected that you have investment that is not at risk. 

Not at Risk: if you have amounts invested in this business for which you are not at risk, such as the following:

  • Nonrecourse loans used to finance the business
  • Cash, property or borrowed amounts used in the business that are protected against loss by a guarantee, stop-loss agreement, or other similar arrangement (excluding casualty insurance and insurance against tort liability).
  • Amounts borrowed for use in the business from a person who has an interest in the business, other than as a creditor.

If you check that you have amounts for which you are not at risk, and you have a loss on this business, the loss will be reduced or eliminated on the tax return.  This would not allow it to reduce other income on the return, but may be carried over to another year. You can change your selection by using the instructions below.

Sign into your TurboTax Self Employed account:

  • Business Tab - Schedule F 
  • Farming income and expense 
  • Scroll to bottom and select final details
  • Select none or only items that might apply
  • If investments are not at risk, the loss will be suspended and carried over

The screenshot attached will guide you as well.

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