Business & farm

we can't see your returns. just because there was a business loss does not mean there was an NOL because other items of income must be taken into account and thus the business loss could have been completely used up every year by other income.  Such a scenario is possible. Somehow even with the losses year after year  you managed to support yourselves so the money had to come from somewhere. 

 

I highly recommend seeking the advice of a tax pro who can look at the actual numbers and review the laws that existed in the years the business had a loss. one possible issue is if this was a hobby

because losses from hobbies are not allowed. The IRS presumes that an activity is engaged in for profit if it shows a profit for at least 3 out of 5 consecutive years. With losses year after year, it would seem you did not meet the 3 of 5 test. That this is a hobby can be rebutted if the iRS audits should the issue come up.