You'll need to sign in or create an account to connect with an expert.
Thank you for your clarification,
You are only allowed to deduct expenses in the year that you paid them.
In your case (assuming that we are speaking of business expenses for a Schedule C or rental expenses on Schedule E), you should report the 2016 expenses on your 2016 income tax return even if you do not have income.
Thank you for your clarification,
You are only allowed to deduct expenses in the year that you paid them.
In your case (assuming that we are speaking of business expenses for a Schedule C or rental expenses on Schedule E), you should report the 2016 expenses on your 2016 income tax return even if you do not have income.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
calderad07
New Member
Irasaco
Level 2
auntsoup66
New Member
eztax7749
New Member
kvthompson2
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.