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Schedule C has line 2 labeled "returns and allowances". Where in turbotax do I enter the value for that?

 
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JohnB5677
Employee Tax Expert

Schedule C has line 2 labeled "returns and allowances". Where in turbotax do I enter the value for that?

If you go to the self-employed section of your return:

  1. Select Add income for this work.
  2. A menu will show Let's enter any additional income for your work.
  3. Select Rebates and refunds, includes any income returned to customers.

 

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AnnetteB6
Employee Tax Expert

Schedule C has line 2 labeled "returns and allowances". Where in turbotax do I enter the value for that?

You will find that entry in the Income section of the Schedule C input screens.

 

If you are using TurboTax Online Self-Employed, look for the description 'Rebates and Refunds' to enter your information.

 

If you are using TurboTax Desktop Home and Business, look for the description 'Income You Gave Back' to enter your information.  

 

Either way, enter the amount as a positive number and it will be subtracted from your other business income on Schedule C line 2.

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Schedule C has line 2 labeled "returns and allowances". Where in turbotax do I enter the value for that?

Hello,

I still don't find the rebates/refunds choice!

JohnB5677
Employee Tax Expert

Schedule C has line 2 labeled "returns and allowances". Where in turbotax do I enter the value for that?

If you go to the self-employed section of your return:

  1. Select Add income for this work.
  2. A menu will show Let's enter any additional income for your work.
  3. Select Rebates and refunds, includes any income returned to customers.

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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