Good morning,
Two years ago, we started a small side business selling goods, and both years, we had losses, even though last year was not as bad. This year, we still have a loss, and we don't want to claim a third year of losses on our taxes. Can we just note it as a hobby business on TT, or do we have to indicate we dissolved it?
What happens if it makes a profit next year? Can we just again list it on TT? Is there a minimum on the profit we need to claim?
Thank you!
