Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
meganlibby05
New Member

Is it bad to have net operating losses?

 
1 Best answer

Accepted Solutions
WillK
Level 9

Is it bad to have net operating losses?

No it isn't bad to have a net operating loss if you were running your business to make a profit. There are times when no matter how hard to try to turn a profit you can't and you end up taking a loss.

If you can support your loss (have receipts and can show you operated to make a profit) then do not worry about the loss.  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
WillK
Level 9

Is it bad to have net operating losses?

No it isn't bad to have a net operating loss if you were running your business to make a profit. There are times when no matter how hard to try to turn a profit you can't and you end up taking a loss.

If you can support your loss (have receipts and can show you operated to make a profit) then do not worry about the loss.  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.61m
Discussions

Manage cookies
v