---In vpFREE@yahoogroups.com, <007@...> wrote :
I believe losses on schedule C are neither gambling nor investment,
but business losses, which can be carried forward.
NOTI is correct. When your Sch C business is gambling, losses are not treated the same as Sch C losses from other kinds of business. Sch C losses from a gambling business can't be used to offset other income and can't be carried forward to other tax years.
--Dunbar
__._,_.___
| Reply via web post | Reply to sender | Reply to group | Start a New Topic | Messages in this topic (4) |
.
__,_._,___
