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Author: stockmover Big red star, 1000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121106  
Subject: Re: Small Business Tax Losses? Date: 10/24/2013 3:09 AM
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But the article is written from the perspective of a going-concern, not a business that began, ate up a bunch of expenses, then ended all within the course of a single tax year.

AFAIK your Sch C losses will in fact offset your regular income. Its my understanding that if this was started as a true business, as opposed to a "hobby", your documented/substantiated losses for the business should be accepted by the IRS.

Unless the pro's say differently I would report the loss on Sch C and chalk it up to experience.

Rich
Arizona
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