How to file taxes with no revenue

[Yonsunxoxo]

I opened my restaurant this year, January of 2023 and it’s doing ok. I have a question about the expenses incurred last year without any income. I spent majority of my loan getting it ready. I spent roughly $200K renovating, inventory, equipments, supplies, etc. They were transactions from 2022, not 2023. Or can I use that to offset the income from 2023?

[Anonymous_]

---

---

You can begin cost recovery when you placed those assets in service (January of 2023).