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elizabethneo
New Member

Why is there a negative income amount under my self-employment income and expenses section

 
4 Replies
KrisD15
Expert Alumni

Why is there a negative income amount under my self-employment income and expenses section

You must have had more expenses than revenue and are claiming a loss. 

 

 

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Peg56
Level 1

Why is there a negative income amount under my self-employment income and expenses section

Can I let this there or do I need to fix it some how?

AliciaP1
Expert Alumni

Why is there a negative income amount under my self-employment income and expenses section

If you are certain you have entered your income and expenses correctly you can leave the loss there.

VolvoGirl
Level 15

Why is there a negative income amount under my self-employment income and expenses section

It's ok to show a loss on Schedule C.  It will be deducted from all your other income.   It's a good thing, for taxes at least.   Not for your business if you aren't making a profit.

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