I want to make sure this loss is carried over to bring down my tax liabilty

Thanks for visiting the Community,

QuickBooks Self-Employed (QBSE) use a Schedule C form to report your self-employed income and expenses. It's also known as Form 1040. Every time you categorize a transaction, the system matches it to a line on your Schedule C.

To learn more about Schedule C categories and how to categorize transactions in QuickBooks, check out this article: Schedule C and expense categories in QuickBooks Self-Employed.

You can run the Profit and Loss report to check if your loss is carried over. Here's how:

1. In QBSE, go to Reports at the left pane.
2. Select Profit and Loss.
3. From the Report period dropdown, choose a specific date range.
4. Hit Run report.

I'm also adding these articles for future reference:

• QuickBooks Self-Employed Overview.
• QuickBooks Self-Employed - Annual taxes guide.
• The (Almost) Ultimate Guide to Self-Employed Expenses and Tax Deductions.

Reach out to me in the comment section below if you have any additional concerns or questions. I'm always here to answer them. Have a great day!

Many thanks Fritz