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    How long can I report losses?
    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!


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    Portfolios are living proof of your work to attract clients. Before you look for clients, make sure you have a promising portfolio. Many people will be more interested in seeing examples of your work, rather than just verbal promotions.

    This portfolio can be a benchmark for your photo type or style for others. So, when your client starts asking for something weird, you have good reason.


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    you are talking about you started a photography business from my home 4 years ago, i have no knowledge about
    sorry for that

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    Yes! You are absolutely right. I agree with you.


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    You can write off up to $3,000 worth of short-term stock losses in any given year.


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    Last edited by booxingcomponents; 02-26-2020 at 01:17 AM.
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