When you transferred your tax information from last year to this year's TurboTax return, you likely had some Capital Assets you were claiming Capital Cost Allowance (CCA) on. The program automatically claims a CCA deduction on these items, creating a business loss.
You'll need to delete the T2125 - Statement of Business Activities that the information has carried forward from. To do so, use the Find icon and type in Self Employment. Then navigate to the T2125 - Business Summary and delete the form which is showing the negative amount.
PalpatablePalpatine
Returning Member
jesse97lee1@gmai
New Member
shil99413
New Member
djeffery5031-gma
New Member
amyklimosko
New Member
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.