Schedule C Material Participation & W2 Income

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  • tempora
    Junior Member
    • Jan 2009
    • 4
    #1

    Schedule C Material Participation & W2 Income

    Can you offset the loss from a Schedule C activity which meets the material participation criteria from W2 income?

    Thanks,

    Anthony
    Tags: None
    • solomon
      Senior Member
      • Aug 2006
      • 1012
      #2
      Are you a tax preparer?

        Comment

        • solomon
          Senior Member
          • Aug 2006
          • 1012
          #3
          In response to your email:

          The Sch C loss is transferred to Line 12 of the 1040. Therefore, it offsets Line 7 automatically.

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