Announcement

Collapse
No announcement yet.

Schedule C Material Participation & W2 Income

Collapse
X
Collapse
 
  • Page of 1
  • Filter
  • Time
  • Show
Clear All
new posts
Previous template Next
    #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
    #2
    Are you a tax preparer?

    Comment

      #3
      In response to your email:

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

      Comment

      Previous template Next

      Disclaimer

      Collapse

      This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

      Working...
      X