Quote:
Originally Posted by pzebra
Another tax question...
I was just licensed in mid December 2012. I paid registration and clinic fees, purchased uniforms, equipment etc. in December 2012.
But I did not get my first paying gig until January 2013. I have receipts for all this, and it totals around $200.
So is it worth while for me to file the schedule C showing a loss in 2012? Or I am just asking for trouble? (I know I cannot file C-EZ because I had no officiating income in 2012).
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IANAL, but, you should be fine. If they question it, you will just need to show that you received related income in 1/2013 that will go on the next year's taxes. Many business have start-up expenses that are incurred before income is received.