I am a licensed attorney and have worked for 40 years as a lawyer in private practice on my own as a solo practitioner. I just turned 67 years old, have a medical issue and stopped taking new cases January 2023. I did not generate income as a lawyer in 2023 and 2024 and took a loss those two years. I do not expect to generate income as a lawyer in 2025 or ever again in the future (although never say never, right?). I do have other nominal streams of income and started taking early social security in 2023. I still have a law license, maintain a law office and have some legal professional responsibilities to current clients. I may resolve those cases by the end of 2025, but not have any legal responsibilities to any clients in 2026. How long (for how many years) can I continue to write off my overhead and expenses as a lawyer and take a loss which would then reduce the income taxes I pay on my other income and my social security payments?
