TaxGuyBill
Level 15
05-30-2021
06:40 PM
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@Raj1 wrote:
2021 Tax Year Estimated but most likely Situation
Sch C nominal loss
2022 Tax Year Estimated but most likely Situation: More or less similar to 2021 tax situation.
Take a step back. Are you saying the taxpayer is already EXPECTING a Schedule C loss in 2021 and 2022?
Is this really a business with the goal to make a profit?
At first glance, this seems like a person who wants to write off vehicles right before retiring, and is trying to call an activity a "business" which might not necessarily be a business.