wethepeople
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12-07-2019
01:07 AM
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After deducting expenses, including an office at home, and carryover losses there is a loss for 2018. Are the provisions of the TJCA applicable or would filing be the same as 2017?
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IRonMaN
Level 15
12-07-2019
01:07 AM
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20% times zero equals zero, so the return should look pretty much the same as last year ------------ ignoring the sporty postcard design.
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abctax55
Level 15
12-07-2019
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But make sure you track that loss, and carry it to 2019 for future adjustment to QBI.
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rbynaker
Level 14
12-07-2019
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What are carryover losses?
wethepeople
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12-07-2019
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Resulted as expenses including office at home deduction were greater than the gross income reported on Form 1099-MISC. The schedule C deductions were limited to the gross income and the excess were carried over to future years.
rbynaker
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12-07-2019
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Thanks. So how are those carryover losses able to create a Sch C loss in 2018?
wethepeople
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12-07-2019
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Schedule C shows no profit or loss as the loss that resulted from the office at home deduction gets carried over to future years,
