Schedule C loss carryforward
Can a sole proprietor carry forward losses on a Schedule C from one year to the next.
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Gary720
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02/09/10 4:15pm PST
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PhoebeRoberts
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02/09/10 4:16pm PST
Only if the loss is large enough to create an NOL for the return as a whole.
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Amy-in-PA
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02/09/10 5:05pm PST
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At the Federal level, Schedule C losses are usable against other types of income. On NJ and PA state returns, Schedule C losses are not usable against other types of income, but neither do they carry forward.
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