- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Can you claim receipts for materials purchased for your business even if you did not make any income?
Hi everyone. I'm a college student and my parents claim me as a dependent. I began collecting craft machines and shipping supplies for a business last year. I even got a sole proprietorship set up. However, I hadn't started to sell items yet. My parents advised me to hold onto receipts of things I purchased, which I have, but now I'm unsure if I can claim these receipts if I didn't make any income. I would really appreciate an explanation of this.
March 2, 2022
10:56 AM