Arthur Kamlet wrote:
- quote -

There's about 700k of us nationwide, or 0.25%, or 1 in 400
in the U.S.

"Andy" in the unmoderated group uses his too, W8ZA.

[No replies please, as this is now off topic. Perhaps if
you want to know more, try e-mailing one of us.]

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Arthur Kamlet wrote:
- quote -

Only when YOU do! (grin

KUTGW,

Cheer$,
Harlan

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Raymond wrote:

- quote -

How does E get into it? A schedule C business could become
a "hobby business", (income on the miscellaneous income
line, deductions being miscellaneous "business" deductions,
but no more than income, and subject to the 2% rule.), but
schedule E is beyond me.

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Harlan Lunsford <hlunsfordns[at]bellsouth.net> wrote:
- quote -

It's my ham call -- amateur radio station call letters.

Several posters here use their ham calls - Stussy uses it as
his email address. It's been with me for close to 50
years now. I'm not sure when it becomes an antique :^)

__
Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH

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- quote -

O K then, I give up. What does the K2PZH stand for?

IMWTK

Cheer$,
Harlan Lunsford

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katiej_1958[at]yahoo.com (Katie Jaques) wrote:
- quote -

Can you switch from form C to form E (e.g. for 2 years),
then go back to form C; under the assumption that for a
certain period you just didn't work hard enough to consider
your effort sufficiently business like ?

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Raymond <raymond912002[at]yahoo.com> wrote:

- quote -

In general, the first two years of loss could be getting
started issues, and the IRS has the burden of proof that
this is not a true profit making business. But with a
history of 4 consecutive years of no profit and a fifth year
with no income, the burden of proof has shifted to you to
prove you are trying to make a profit and have a reasonable
expectation of doing so.

A printed business plan outlining these details would sure
help.

Assuming you do not have this, and since you had no income
this year, I would not even be including any schedule C on
the return.

If this is a hobby business, which might be the case, income
is reported on Form 1040 Line 21, labeled hobby income, and
expenses, but not more than income, would go on Schedule A
Line 22, where it might or might not be of any tax benefit.

__
Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH

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raymond912002[at]yahoo.com (Raymond) wrote:

- quote -

Presumably he has expenses related to this activity in the
no-sales year. Assuming this is an activity engaged in for
profit, he should file a Schedule C showing zero revenue and
deducting the expenses.

Of course, if it is a hobby, he can only deduct expenses to
the extent of revenue. Five consecutive years of net losses
places a heavy burden on him to show that it is not in fact
a hobby.

Katie in San Diego

The foregoing is intended for educational purposes only and
does not constitute legal or professional advice.

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"Raymond" <raymond912002[at]yahoo.com> wrote

- quote -

Schedule C, and report any regular business expenses (he's
surely got some). Attach a note that there aren't any sales
in this tax year.

--
Snowmen fall from heaven unassembled.
-------------
Paul A. Thomas, CPA
taxman at negia.net

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A person creates and sells iron sculptures. His sales occur
at about 8 outdoor markets per year. One year he decides
not to travel, instead just to stay in his studio (resulting
in no sales). He plans on resuming his selling the
following year. Previously he has filed schedule C. How
does he file this year? His four previous schedule C
filings have all shown losses.

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