On Schedule C, I show a Business Loss of $4451. On Line 29, the number is -$4451.
However, this loss is not showing up on Schedule 1, and therefore is not being reflected in Form 1040.
I am using a Downloaded PREMIER version of Turbotax.
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Anything on Schedule C line 30? Some expenses, such as home office or section 179 depreciation can only be used to reduce your schedule C taxable income to zero, and not to create a loss. Excess deductions for these carry over to the next year. And you have to answer yes to both questions about exclusive and regular use, not just one. The area of your home office must be used regularly and exclusively for business to deduct it.
Or you checked the box on 32b saying Some Investment is Not at Risk.
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