Hi all, does anyone know - for self-employed in US, if in 2005 business expenses were greater than business income, and was no wages,
and in 2006 business income is much greater than expenses, Is it possible to write off these losses from 2005 in 2006? If the answer is yes - then where to report this amount on the form? Thank you.
Business losses from last year
Moderator: Mark T Serbinski CA CPA