Banks and Advisors CPAs
Level 2
04-18-2023
09:19 PM
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On Sch C: Profit or Loss From Business, Line G, we are asked if we materially participated in the operation of the business. I don't see an option to enter this on the "Input" tab. When I view the form on the "Check Return" tab and click the "highlighted" blue field I am taking back to the "Input" tab, however I do not see the option to enter yes. I can only check the box next to "Did not "materially participate"", however, when left checked or unchecked the answer still shows as "No" on Sch C, Line G. Please advise.
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nmms
Level 4
04-18-2023
09:33 PM
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When I leave the box Did not "materially participate" unchecked, the Schedule C line G question Did you "materially participate" in the operation of this business during 2022? etc. has a big X in the Yes box.
Banks and Advisors CPAs
Level 2
04-18-2023
09:36 PM
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I just checked again, that box isn't checked and unfortunately I'm getting this error.
Banks and Advisors CPAs
Level 2
04-18-2023
09:39 PM
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Actually, I found my issue it's this line on the "Input" tab:
Passive activity: 1=active participation, 2=not active.
I entered one. Deleted the entry and entered nothing here and it now says "Yes" on Sch C.
Banks and Advisors CPAs
Level 2
04-18-2023
09:40 PM
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Thanks for your help, that is definitely a solution as well for any readers out there check both.