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Business & farm
Thanks @JeffreyR77 . To clarify, let's say I had something like this:
2017: $1000
2018: $1000
2019: $1000 (abandoned business)
If I understand correctly, I'm not actually "amortizing the remainder" since the lifetime total is under $5k. But I would take the 2017 and 2018 expenses as ordinary Schedule C business losses, and the 2019 expenses as a capital loss?
Also, when you say "the guidance is pretty concise", that's Publication 535, right? Or is there anywhere else I should be looking for this?
ā€ˇFebruary 22, 2021
6:18 AM