Entering a loss on tax return

Hi there, MWB1. I'm here to help you enter a loss on the tax return form in QuickBooks Self-Employed (QBSE).

When tracking the loss on the form, you can fill it out on either of the boxes mentioned below:

• Boxes 77-80 - if you are using the SA103f form to submit your taxes to HMRC. 
• Box 29 - if you are using the SA103s form to submit your taxes to HMRC. 

Before doing this, I highly recommend consulting your accountant to best assist you in tracking the loss and for better recommendations on ways to record this.

Additionally, I've added these resources to help you keep on top of your transactions and prepare your Self Assessment for your Income Tax return using QBSE:

• How to do a Self Assessment tax return
• Self Assessment for Income Tax Checklist for QuickBooks Self-Employed

Should you have additional questions about managing your tax return, please don't hesitate to reply to this post. I'll be willing to lend a hand. Have a good one.