Schedule C missing in my tax return

[rsubr11]

I'm using "Do It Yourself Premium".  I filled out all of the info for my business under "Self-employment income and expenses" but in the "income summary", the number for my business is blank (should be a loss), and the 1040 preview does not show an income adjustment from a Schedule C, which I expect to see in Schedule 1 Box 3.  It looks like a Schedule C isn't being generated at all?

[mesquitebean]

Since you have a loss, did you answer the "at risk" questions at the end of the Schedule C interview?  If so, how did you answer them?

And did you have expenses for business use of your home?

I'm not a tax expert, but they will want to know those things to further advise you.

[rsubr11]

Yes, I did answer "not at risk".  And it says everything looks good-- but no Schedule C.

And I am reviewing that section again and it clearly says "Your taxable income is $xxxx.xx lower! 

Add expenses to reduce it even more."

[mesquitebean]

If you want to confirm that a Schedule C is being prepared in the background, you can go to Tax Tools, then Tools.   In the Tools window choose "Delete a form".  You are not going to actually delete one, but it will show you a list of forms in your return.   Be careful not to accidentally delete something.

If you want to have printing privileges of all the forms, we can tell you how to pay for your online product in advance then you can print and view at will.   Once paid, however,  you won't be able to start over from scratch.  It does also lock in the price before the next price increase as well.

[rsubr11]

Thank you, that confirms that a Schedule C is not being generated!  I really think this is a bug.  How do I get someone to look into this?

[mesquitebean · Accepted solution]

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@ rsubr11 wrote:

Yes, I did answer "not at risk".  And it says everything looks good-- but no Schedule C.

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So you said your business is "NOT at risk???"    That means you are not using your own money for this business, or have things like nonrecourse loans.  Is that correct, or an error?    In contrast, "at risk" means you are using your own money and are responsible for your own loss.

"Not at risk" would generate Form 6198.

[rsubr11]

Oh, I answered it wrong then.  How do I change this??  Really appreciate your help.  It sounded like "did I have the assets for the business invested where they are at risk".

[mesquitebean]

If all the investment in your business is from your own money, and if you are liable for any loss from the business activity (i.e., no one else covers the loss), then that would be "at risk".

If it wasn't all from your money and someone else is responsible for all or part of the loss, that means some (or all) is not at risk.    If you originally said the business was "NOT at risk", is there a Form 6198 in your list of forms?

Let me see if I can ask tax expert @ DawnC  or @ MarilynG1 to assist you on why there is no evidence of a Schedule C in your online forms list and further explain this situation.

[rsubr11]

I found it in the "uncommon situations" and was able to fix it.  Thank you SO MUCH!!

[rsubr11]

Well, this is confusing.  The federal amount owed changed, but still no Schedule C....

[rsubr11]

Also, no form 6198 before or now.

[mesquitebean]

When you look at the forms list under "Delete a form", there may be several pages of forms.  I presume you looked through all of them.  Some people don't see the indication lower down that there are more pages.

In any case, I've already asked a tax expert to assist you in this thread.

[rsubr11]

Thank you, really appreciate your help!  The "at risk" question was definitely the root of the problem.

Now I DO see in the 1040 preview that Schedule 1 Box 3 has a negative number as expected, but the "delete a form" still doesn't include a Schedule C.  At least I can see now that my business is being accounted for in the calculation!

[rsubr11]

Ah, you're right.  I had just did a "find" in the page and Schedule C didn't come up, but it's on the second page.

My question is resolved 🙂

Thank you again!!!

[mesquitebean]

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@ rsubr11 wrote:

Ah, you're right.  I had just did a "find" in the page and Schedule C didn't come up, but it's on the second page.  My question is resolved 🙂

Thank you again!!!

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Aha!  I was suspicious you were not seeing the additional pages of forms, since the next page indicators are not real obvious.  You're welcome.   Good luck.