This was an informative post answering most of my question. Though I have a subtle difference.
In 2023 I took early retirement, so I did have some W2 income. I also started a business (consulting/ecommerce), though have $0 income from that startup, but did have expenses (Indiv LLC setup, computer, website, ecommerce program/training, etc).
I will file as an individual with business pass thru. Because I have the W2 income, do I need to consider those startup business expenses in 2023 or can I carry them over to 2024, when I am only dealing with startup income?
Also, I believe it really comes down to whether those expenses (when itemized) sum greater than the standard deduction, otherwise it doesn't make sense using itemization, right?
Really, it would make life easier 😅 to take the standard deduction in 2023 and carryover expenses to 2024 for consideration (vs standard ded) then. I just want to ensure I am doing this correctly(legally).
