Spires34
Returning Member

Deductions & credits

@VolvoGirl its a formed LLC and just myself. I didn't want to mention this part because it takes away from the main question, but I also made side money as a 1099 contractor so these expenses does in fact help lower taxation in that sense. (since LLC is pass-thru). 

 

But that last part you said, yes that is my question. everyone says it "carries over" so what does that mean? Does turbo tax track how much additional expenses went past that zero income, and save it for next year? For example do I put a post-it note on my desk and hold it for next year with that number on it? I know not literally but just trying to hammer down my question here. not sure how carry over works.