In my 2024 tax return, I showed a $7000 loss on Schedule C. I also had income from social security, retirement accounts, and royalties. I ended up owning no Federal or state income tax and owed no self-employment tax.
I'd like to know if all of that $7000 was deducted fromother income sources, or if there's any "left over" that will roll over into 2025. That is, could be reported as a business loss in 2025. How can I determine that?
