IF MY SELF-EMPLOYMENT EXPENSES ARE GREATER THAN MY ANNUAL SALES, DOES THE INCOME LOSS APPLIED AGAINST MY TAXABLE AMOUNT?

[jcallahantx]

IF MY SELF-EMPLOYMENT EXPENSES ARE GREATER THAN MY ANNUAL SALES, IS THE INET LOSS APPLIED AGAINST MY TAXABLE INCOME?

[LeticiaF1]

Yes, generally you can apply your  self-employment loss against your other taxable income. ‌There are some situations where they'll be limited.  For more information see Chapter 9 of IRS Publication 334 (2024), Tax Guide for Small Business.