How long can I report losses?

Shutterbug · Newbie Joined: Mar 15, 2005 Posts: 1

I started a photography business from my home 4 years ago. As a nature/ outdoor photographer I had hoped to sell prints, calendar shots, greeting cards, etc. through art galleries & through my web site. I have found out how difficult this is. Over the last three years I have not been able to show a profit. I am preparing my taxes for the 4th year of business and am still coming up with a loss. My question is; How should I proceed? It sounds like I have about three choices. I can; 1) Report the loss for the 4th year & hope the IRS doesn't question my expenses. 2) Report only the income and not the expenses to avoid showing a loss. 3) Dissolve my business & start over. Or as a 4th choice, should I file form 5213, which, if I understand it correctly, will buy me some time (Two or three years?) in which to show a profit. (While I am still hopeful, there is no guarantee that profits will come). I really don't want to do anything to trigger an audit that would disallow any legitamit expenses that I have deducted in the past. It seems I'm caught between a rock & a hard place here! Any advice or opinions would be appreciated!