No 1099? Do I file a schedule C?

Have main job and side business--unrelated. Filed schedule C for past 2 years on side income earned (under 10K). in 2007 no money made in side business but have contract--do I file a schedule C this year or for next year after am I paid? If so, what do I do about my business deductions this year--do I carry them over to the next year and not file a schedule C this year because my side business made no money?

No 1099? Do I file a schedule C?
file schedule C for 2007. you lost money -- no revenue but had expenses. this negative carries over onto your Form 1040 and reduces your tax due





IRS trusts that you'll make this all back in the future and thus pay the taxes then.





[as long as you make money at least 3 years out of every five they do.]
Reply:Do what "Spock" says he's right on.





Save me some trouble, lol