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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 577
Experience:  10 years experience
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Yes, I am using the Schedule C and want to know can gross receipts

Customer Question

Yes, I am using the Schedule C and want to know can gross receipts have a negative number..
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: I am preparing the return myself...I have rental property that I have not received rents for almost 2 years..
JA: Is there anything else the Accountant should be aware of?
Customer: I am self employed and widowed..
JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Accountant about your situation and then connect you two.
Submitted: 6 months ago.
Category: Tax
Expert:  emc011075 replied 6 months ago.
Hi. My mane is Eva and I will be happy to help you. If you have rental property you will not report it on Schedule C, it will go to schedule E. And gross recites don't mean your expenses, it means your income. You are in the wrong schedule.