I haven't followed your numbers, but yes, there is a problem with the IRS computers calculating things (the Adoption Credit versus the Child Tax Credit/Refundab...
@Terry65wrote:I’m aware the IRS rules don’t allow an office-in-home deduction to generate a loss. That's not necessarily true.In some cases, Mortgage Interest, ...
If you are referring to lines 1 and 3 of Form 4562, don't worry about it, it shouldn't affect your tax return (although TurboTax seems to be doing it wrong and ...
@mahimahimomwrote:the Hobby Loss 3-year rule?I think you are misunderstanding that rule.The rule is that if it is profitable for three out of five years, the IR...
Assuming you are referring to two self-employed businesses on Schedule Cs, no, you are not allowed to use the Standard Mileage Rate for one business and the Act...