Form 8829 Carryover from Operating Expenses from 2005?

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Subject Author Date Form 8829 Carryover from Operating Expenses from 2005? pkunal 02-27-2007  Re: Form 8829 Carryover from Operating Expenses fr... Harlan Lunsford 02-27-2007
Posted by pkunal on February 27, 2007, 3:17 pm Please log in for more thread options Tax: Form 8829 Carryover from Operating Expenses from 2005? I was setting up my business in Nov 2005, developing my website, registered the business with state, bought some stationary etc. The total expense was $131 but no income was done in the business. The Tax Preparer told us not to do anything with the business since there was no income. Now in 2006 I wish to claim those expenses on my Tax return. But the form explicitly mentions "Carryover of operating expenses from 2005 Form 8829, line 41". I did not file any Form 8829 in 2005. Can I still fill in $131 on this line? Please let me know at the earliest. << ======================================================= >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2006) - All rights reserved. >> << ======================================================= >> Posted by Harlan Lunsford on February 27, 2007, 10:11 pm Please log in for more thread options pkunal@yahoo.com wrote: > Tax: Form 8829 Carryover from Operating Expenses from 2005? > > I was setting up my business in Nov 2005, developing my > website, registered the business with state, bought some > stationary etc. The total expense was $131 but no income was > done in the business. The Tax Preparer told us not to do > anything with the business since there was no income. Now in > 2006 I wish to claim those expenses on my Tax return. But > the form explicitly mentions "Carryover of operating > expenses from 2005 Form 8829, line 41". I did not file any > Form 8829 in 2005. Can I still fill in $131 on this line? > > Please let me know at the earliest. Nope. Each year's expenses belong to the return for that year. ChEAr$, Harlan Lunsford, EA n LA << ======================================================= >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2006) - All rights reserved. >> << ======================================================= >> Similar Threads Posted Amending 2005 Form 8801 (Credit for Prior Year Minimum Tax) February 25, 2007, 4:41 am Rental property carryover expenses March 6, 2007, 6:03 am Form 2210AI and capital-loss carryover March 6, 2010, 2:52 am VA net operating loss May 19, 2008, 8:36 pm Net Operating Loss August 30, 2009, 7:20 pm Re: Net Operating Loss August 30, 2009, 11:54 pm Net Operating Loss Confusion. Please Help June 23, 2006, 3:10 am Net operating loss - rental activity November 16, 2009, 11:33 pm Carryback of Net Operating Loss -- NY Minimum Tax and Fed taxes February 22, 2010, 12:00 am Reimbursable expenses and sales tax included in totals on 1099 MISC form? January 27, 2009, 12:05 am