Tax Return

[M&M Guy]

Originally Posted by Snaqwells

Check with your local tax professional, but my understanding is that you can only show a loss so many years in a row. I'm not sure of that, nor am I sure of what the consequences are.

You have to show a profit at least some of the years, (something like 2 out of the last 5?) otherwise the "business" becomes a "hobby". You would still need to report the income, but you cannot deduct any expenses because they would not be related to a "business".