- IF I SAID I DISPOSED OF MY NON-RENTAL BUSINESS IN 2018 CAN I AGAIN INDICATED YES DISPOSED OF BUSINESS IN 2020 SO THAT I CAN CONTINUE TO INCLUDE CARRYOVER LOSSES FROM PREVIOUS YEARS? No. If it closed in 2018, that is the end of it.
- 2NDLY AS I HAVE HAD LOSSES FOR MORE THAN 7 YEARS IN 2015 THE IRS SAID I WAS A HOBBY SO DOES THAT MEAN I WAS STILL A HOBBY IN 2018 AND THE QUESTION REGARDING DISPOSAL OF BUSINESS IS IRRELEVANT? If you had a hobby, then no losses are allowable. Yes, the question about disposing of a business is irrelevant, since you never had a business to begin with.
