Schedule C


L

Lenny Abbey

Are excess deductionds (expenses) listed on Schedule C carried over from
year to year?

Thanks,

Lenny
 
Ad

Advertisements

T

Thomas Healy

Are excess deductionds (expenses) listed on Schedule C carried over from
year to year?

Thanks,

Lenny
Only if they create a Net Operating Loss. Typically that means Adjusted
Gross Income is negative, though you can get an NOL in other situations if
the facts are right. NOLs are carried back two years (i.e, 2002 for 2004
returns) and then forward 20 years unless you elect to forego the carryback.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Similar Threads

schedule C 9
Schedule C 2
Schedule C 0
USA Contractor feeding other subcontractors on job sites, Schedule C, does this count as an expense 1
schedule C inventory 3
Wages or Schedule C 1
Schedule C Reporting 2
USA K1 or Schedule C? 8

Top