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Returning Member
posted Mar 8, 2021 4:31:14 PM

Sole Proprietor who started business in 2020 but had some expenses in 2019

Hi everyone,

 

I am a sole proprietor who started my online business in January 2020 officially since I got my sales in 2020 but there were expenses such as my silhouette printer and cardstock supplies in December of 2019. Can I still deduct these expenses on my 2020 tax return? Please help, thank you. 

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1 Replies
Expert Alumni
Mar 9, 2021 7:06:15 AM

No. You can't carry expenses from one year to the next. Only expenses from 1/1 to 12/31/2020 can be entered on Schedule C.