Thread: Profit or Loss?
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Old 01-28-2012, 01:36 PM
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GrannyJ GrannyJ is offline Member
Join Date: Jul 2011
Location: California
Posts: 109
Default Profit or Loss?

I am confused about reporting a loss. I thought you could only report a loss two years in a row. Yet I saw on a post here where some daycares declare a loss every year.
In '08 and '09 I reported a loss then in '10 I reported a profit but it was only around $300. This year I will definitely be in the red so how would I report that? Can I take the loss because it is going to be a big one, or do I just not report everything I bought???
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