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Business & farm
If you were actively engaged in the business before 12/31/23, then you report your expenses, even though you didn't earn money. You will have a loss that you can carry forward to deduct against future profits.
If you weren't actively engaged in business and were only setting it up, then you hold your startup expenses and file them in the first year that you file the business.
‎January 23, 2024
12:46 PM