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Daycare and Taxes All things related to Taxes and running a Daycare post here. Topics of tax exemptions, forms, filings, tax write offs, IRS etc.

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Old 08-12-2014, 03:29 PM
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BrooklynM BrooklynM is offline
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Default Claiming last years expenses this year? Tom?

Tom- I'm hoping you can help me. For our 2013 taxes, we had a write off from the prior year when we sold a rental property and lost money. We had so much of a write off from that, I didn't need to put any of my expenses on our taxes. In fact, I didn't even claim one of my kids, I let my ex claim them in return for me to claim both of my kids this year. My question is- can I use the expenses I had for daycare last year this year?

Thank you!
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Old 08-13-2014, 07:30 AM
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TomCopeland TomCopeland is offline
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Default When to claim expenses

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Originally Posted by BrooklynM View Post
Tom- I'm hoping you can help me. For our 2013 taxes, we had a write off from the prior year when we sold a rental property and lost money. We had so much of a write off from that, I didn't need to put any of my expenses on our taxes. In fact, I didn't even claim one of my kids, I let my ex claim them in return for me to claim both of my kids this year. My question is- can I use the expenses I had for daycare last year this year?

Thank you!
You can't put expenses on your Schedule C for 2014 that you incurred in 2013. If putting all of your 2013 expenses on Form 8829 for 2013 would create a loss for your business, you can then carry over that loss onto your 2014 Form 8829.
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