I had schedule C for our home business(not setting up any official entity) in 2017 return. Which line indicates if I had at risk losses carrying over from 2017?

[Cindy0H · Accepted solution]

On line 31 of the Schedule C is the loss. Right below are boxes 32a and b which indicates if all or some of the investment is at risk.

• If you checked 32a (All investment is at risk), enter the loss on both Form 1040, line 12,  and on Schedule SE, line 2. (If you checked the box on line 1, see the line 31 instructions). Estates and trusts, enter on Form 1041, line 3.
  
• If you checked 32b (Some investment is not at risk), you must attach Form 6198. Your loss may be limited.
  

The Schedule C from 2017:

https://www.irs.gov/pub/irs-prior/f1040sc--2017.pdf

[tc333]

Thanks!!! I imported 2017 return to 2018 return.  TT does have some knowledge about my 2017 numbers.  Why  doesn't TT transfer the 2017 at risk number over to 2018 in this case? If it can also provide the needed field line number in the form, it'd be very helpful. Just wonder sometimes TT is very smart, but not always.

[tc333]

Another question: TT asks about at-risk loss carryovers for the home business.  The above anwered on schedule C carryover number for the business.  It also asks about Schedule D short and long term carryover.  Schedule D is for regular capital gain and loss and is handled in other section of TT.  Why TT asks about Schedule D loss carryover  in the Business Income and Expenses section?  Wouldn't these Schedule D loss carryover numbers be duplicating what's in the Personal Income and Expenses section? Very confused.  Please help!

[Cindy0H]

I am a tax advisor not a technician, so I am afraid I can't answer that. Sorry.