|
#2
02-29-2004, 08:38 PM
| |||
| |||
 Re: Schedule C Loss After 3 years of losses, IRS starts to wonder whether or not your wife really has a business - but that's another argument. For now, if she has a loss, you take it. Nan, EA in LA << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
|
#1
02-29-2004, 06:37 PM
| |||
| |||
| Re: Schedule C Loss "Mike Reed" <m.reed[at]att.net> wrote: - quote - > My wife started a home business this year and ended up with
No practical limit on Schedule C losses.> a net loss. From Schedule C, is there a limit to the amount > of loss I can claim on line 12 of my 1040? I know the > capital gain (loss) is limited to $3k per year, but can't > find any concrete info about Business loss. Wayne Brasch, CPA, M. S. Taxation << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
|
02-26-2004, 04:52 PM
| |||
| |||
| Re: Schedule C Loss "Mike Reed" <m.reed[at]att.net> wrote: - quote - > My wife started a home business this year and ended up with
Chrysler lost millions (billions?) year after year, you> a net loss. From Schedule C, is there a limit to the amount > of loss I can claim on line 12 of my 1040? I know the > capital gain (loss) is limited to $3k per year, but can't > find any concrete info about Business loss. should be entitled to losses as well. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
|
#-1
02-25-2004, 01:47 PM
| |||
| |||
| Schedule C Loss My wife started a home business this year and ended up with a net loss. From Schedule C, is there a limit to the amount of loss I can claim on line 12 of my 1040? I know the capital gain (loss) is limited to $3k per year, but can't find any concrete info about Business loss. Thanks. M. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| loss, schedule |
Similar Threads | ||||
| Thread | Forum | Replies | Last Post | |
| schedule c loss of income sorr: Can you put in a negative value for line 5 (Gross profit) on a schedule C if line 4 is greater than line 3... ex: line 1 $ 400 line 2 ... | Taxes | 1 | 02-11-2004 03:15 PM | |
| farm loss Brew1: I didn't think the 'three out of five years' rule applied to farming but was unable to find anything in IRS publications as to required... | Taxes | 1 | 01-30-2004 09:16 PM | |
| Schedule D gain or loss? Ralph Diantonio: I bought a lot of stock several years ago for $24.66 per share. There were no costs associated with the purchase of the stock because it was... | Taxes | 5 | 01-28-2004 10:55 PM | |
| Schedule C - Business Loss NoNameAtAll: The only thing about my taxes that is going to be complicated this year is that my wife started a small in-home business. She sells Weekenders... | Taxes | 4 | 01-16-2004 07:37 AM | |
| Do I have a casualty loss? Cheryl: Do these facts indicate a casualty loss AND in what Year should it be reported - 2002 when the loss happened, or 2003 when I received the funds and... | Taxes | 3 | 11-09-2003 06:21 AM | |
| Thread Tools | |
| Display Modes | |
| |
Linear Mode
