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Get your taxes done using TurboTax
Oh ok. That’s interesting. Does the amount of losses/expenses matter ? Let’s say the business had expenses above $50k in the first 2 years before seeing first small income in the 3rd year. Would you still file the first schedule c in the third year and not first year ? Reason I’m asking is because this is software business and like others it does not see income or profit for a long time. Startup costs are always more and could last years.
thank you for your reply. Just curious and want to understand.
April 9, 2025
10:38 AM