TaxKen
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03-21-2023
07:05 PM
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A Sch C 8829 Question regarding the limitation of 8829 expenses. If I have $400 left of Sch C income before 8829 deductions, and $2,000 of 8829 expenses, its being limited to the $400 and C/F the remaining $1,600. However, this is the final year for this sch C business, and no further business income is anticipated. Can we bypass the income limitation for the CY and claim these deductions to increase the Sch C loss in the final year? Or are these carried forward indefinitely, being essentially lost forever?
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