Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Patent Expenses

yeknod
Level 3

I have a TP that has Patent expenses (R&D) also Attorney fees for 2019.

There is no income for 2019 and the only activity was Patent expenses.

Can the expenses all be written off on 2019 taxes?  I have read several articles that say they can be written off but not sure about a new business with no income.

Thanks in advance for your help!

0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

5 Comments 5
sjrcpa
Level 15
yeknod
Level 3

The other thread was going nowhere so I asked it on another community.  I thought that might hit another group of people that didn't see the original thread.

Do you have any experience with the issue?

0 Cheers
sjrcpa
Level 15

Not enough to give an informed opinion.

This all one community.


Ex-AllStar
0 Cheers
qbteachmt
Level 15

"so I asked it on another community."

There is no Other Community.

 

The "community" of peer users is split into subsets by which program you are using. So, you posted in ProSeries and in ProTax Online. To get help using a program, you should post in the forum section for the program you specifically are using.

This is Peer Users that volunteer here to help each other. Make it easy for them to help you, please. Keep it to One topic. Thanks.

*******************************
"Level Up" is a gaming function, not a real life function.
qbteachmt
Level 15

Oh, the other thread Went Fine. For this: "Do you have any experience with the issue?"

Everyone recommended this is more of an Expertise question, and since that takes give-and-take and personal review of details, the answer is usualy not gong to be found by asking the internet.

*******************************
"Level Up" is a gaming function, not a real life function.