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Can I claim costs associated with running a business if I did not make any sales or income? The first year was spent developing the product.
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‎September 3, 2021
6:06 AM
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Credits and deductions
You can claim them as losses against profits made from other businesses, or against income from employment. The IRS understands that it takes time to develop a business. If you have no profit for more than three years, you will be considered having a hobby and not a business.
‎September 3, 2021
12:46 PM