I buy parts to assemble a product to be sold. if the parts I bought to make the product exceed the profit made from sales is that considered a nol ?

[bevans2]

I buy parts to manufacture a product, which I then sell. If the parts I bought to produce the product exceed the profit made from selling the product this year is that considered a nol ?

[Critter-3]

NO ... you cannot have an NOL on a Sch C but you could operate at a loss which may or may not cause an NOL on the form 1040.   These are not the same concepts even though they share the word "loss". 

[Mike9241]

a side issue is that if you have continued losses the activity could be deemed a hobby which would make the income taxable and the expense non-deductible.  this is refutable but the burden would be on you. IRC section 183

If the gross income derived from an activity for 3 or more of the taxable years in the period of 5 consecutive taxable years which ends with the taxable year exceeds the deductions attributable to such activity (determined without regard to whether or not such activity is engaged in for profit), then, unless the Secretary establishes to the contrary, such activity shall be presumed for purposes of this chapter for such taxable year to be an activity engaged in for profit.