Discussion:Disallow a loss?
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Revision as of 14:28, 20 October 2008
Discussion Forum Index --> Basic Tax Questions --> Disallow a loss?
Discussion Forum Index --> Tax Questions --> Disallow a loss?
| 20 October 2008 | |
| I just wanted to know if there comes a point when you stop allowing a client to take a loss. I have a client who is coming up on her 3rd year of small business losses. I know the IRS wants someone to show a gain in 3 of the last five years so as to not be recategorized as a hobby but I also know they take other factors into consideration. Does there come a point when you reccomend to a client taking away a few business deductions so as to not show a loss? When you you get to that point? | |
