Posted by Diane(TX) on December 14, 2002 at 12:39:52:
Yes, the excess expenses will carry over. This excess amount is caled a net operating loss carryforward. The carryforward period is 20 years. Deduct as a special deduction on 2003 return.
expenses in a corp - Posted by Franklin
Posted by Franklin on December 12, 2002 at 11:22:29:
This is my first year doing a c corp. I have a resolution that reimburses dental and medical that my insurance doesn’t cover. I will have more expenses than income. Will the expenses carry over to next year that exceed the corp income?