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Business & farm
There is nothing to enter so just continue through the application. While you have no income to report, did you have expenses? If you had expenses associated with your Energy Healing/Teaching LLC, you should enter those expenses. With expenses but no income, your business will have a net loss. Because such loss is an ordinary loss, it can offset ordinary income. If you have excess losses, such losses are subject to the excess business loss limitations, but generally can be carried forward to a subsequent year.
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‎February 17, 2023
10:41 AM