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Business & farm
For the first year of a new business it's not unusual to have a loss.
By the way, to clarify the terminology, you did not have any profit. I assume that the $6,200 is your gross income - the amount you took in, before expenses. If your expenses were more than your gross income, then you have a net loss. You only have a profit if your gross income is more than your expenses. You have either a profit or a loss, not both.
‎June 5, 2019
11:23 PM