No business income (expenses only) & schedule SE

[Mitzy20]

Hi

Question on Schedule SE.

Last year (2019) I had a small net loss on my LLC - I business I own but did not earn income thru.  I had a net loss of -796 which were basically deductions for business expenses. 

Last year my taxes were done by a CPA and Schedule SE was generated and it shows this loss.

This year (haven't filed yet ), I have the same situation - a small net loss thru the LLC. However, TT did not generate Schedule SE.

Can I assume this is OK and I do not need to file this form?

Thanks 

[Critter-3]

No SE form is  needed since there was no profits.   Don't know why the CPA forced an unneeded form to be included but that was a waste of paper and ink. 

[rjs]

You're not supposed to file Schedule SE unless line 4c is $400 or more. The CPA should not have included it. If you have a net loss, you should not file Schedule SE.

[Mitzy20]

Agree. He is a good CPA but seems to have filed forms I didnt need only adding to my confusion this year. If it weren't for the MLP and K-1 - I likely would have tried TT sooner.

[Critter-3]

In professional programs there are options to have forms (even unneeded ones) be printed in the client's copy even if they are never filed with the return.  Sometimes tax pros do this to "pad" the forms listed in the return and on the billing page to increase the fee or give it the impression that more was done since itemized listings look impressive and can support the fee they charge.  This is not a wrong or right thing to do ... it is simply their choice in how the return is presented to the customer. 

The TT program does the same thing by giving you a return with copious amounts of useless worksheets which takes a 10 page return and produces a PDF with 100+ pages which looks like you really got something for your money  and could not possibly do the return yourself.