forwarding loss

Forum|Forum|5 years ago
February 12, 2021
15 replies
93 views

how can i carry loss from last year it was for business set up, about $16000

This topic has been closed for replies.

You need to provide a lot more details, such as what software you are using, what created the loss, why it was not able to be used, and more. The more details you can provide, the more likely someone would be able to help you.

A

Anonymous

Ok I’m using qbonline, the guy started his business on oct/19, it was a startup expense he signed up with qb on Jan/20.
My question is how much can I forward from the loss which is 16000 to 2020 by the way his net income is 55000 the other question what tool can I use is journal entry fine or there’s a better way.
Thanks

T

TaxGuyBill

@70398 wrote:

Ok I’m using qbonline,

This forum is for tax professionals that prepare tax returns. If you are not a tax professional preparing a tax return, you are on the wrong website.

And for both tax purposes and accounting purposes, your questions still does not make sense as to why anything needs to be carried over.

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