Tax Coda (@taxcoda): "This decision reinforces that profit motive, documentation, and clear separation of personal and business expenses are baseline requirements for Schedule C deductions."

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This decision reinforces that profit motive, documentation, and clear separation of personal and business expenses are baseline requirements for Schedule C deductions.

Court denies business deductions after taxpayer reports no income

You cannot deduct personal household costs as business expenses, and calling informal caregiving a “business” without a profit motive or records will not survive IRS scrutiny.

Tax Coda

Mar 5

2:58 AM

The app for independent voices

Court denies business deductions after taxpayer reports no income

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