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Level 1
June 1, 2019
Question

Can an expense in 2015 be claimed in 2016?

  • June 1, 2019
  • 1 reply
  • 3 views
I made a purchase relative to a 1099-MISC I received for 2016 on Dec 29, 2015. Can I claim it as an expense for 2016? It was used only for income on the 1099-MISC.

1 reply

June 1, 2019

No, each tax year is separate. Expenses from 2015 can only entered on a 2015 return.