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Posted by Allan Martin on February 28, 2008, 12:55 pm
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> Last year I started writing a book. I had to purchase several books to
> conduct my research which was essential for the book I write. I
> deducted those expenses on a dedicated Schedule C that I filed (in
> addition to my main business Schedule C which is in a totally
> unrelated area).
>
> This year I did not have any expenses related to the book writing. I
> am still working on the book (yes, it takes several years to finish
> it, when not working full time on it).
>
> Should I file Schedule C this year for this "book writing" business?
> ($0 expenses, $0 income)?
>
> Or should I simply delete that Schedule C from my TurboTax file?
> (filing it in upcoming years only when I have income/expense)
Think carefully, didn't you buy a pencil, pen or piece of paper for the book
writing business in 2007. If so take the $1.00 deduction and leave it on
Turbotax.
>
> Thanks in Advance,
> Nickolas
>
> --
> << ------------------------------------------------------- >>
> << 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. >>
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========================================= MODERATOR'S COMMENT:
Please delete all non-essential parts of a prior post when responding.
--
<< ------------------------------------------------------- >>
<< 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 (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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