Sch c gain, Sch f loss

[JenMO]

Taxpayer runs two businesses. F had a larger loss than gain on C, so no SE paid. If we pay on the farm option, all the C gain becomes SE income too. Is this correct. Of course, then TP can get EIC. Just wanting to know if paying on farm option and paying on C income is acceptable. This happen to anyone else?

[ChEAr$]

You've got the gist of it, alright

Taxpayer runs two businesses. F had a larger loss than gain on C, so no SE paid. If we pay on the farm option, all the C gain becomes SE income too. Is this correct. Of course, then TP can get EIC. Just wanting to know if paying on farm option and paying on C income is acceptable. This happen to anyone else?

Sounds like your software is keeping you on the straight and narrow too.

Remember that the schedule se pertains to the taxpayer and not to either or both businesses.