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Merlo, Accountant
Category: Tax
Satisfied Customers: 9783
Experience:  25+ years tax consulting. Specializing in returns for US citizens living abroad
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My son had a loss on his 2007 taxes. He did not file for 2008

Resolved Question:

My son had a loss on his 2007 taxes. He did not file for 2008 as he had no income. For 2009, he does have income and must file. Does the loss in 2007 carryover to 2009?
Submitted: 7 years ago.
Category: Tax
Expert:  Merlo replied 7 years ago.

Did your son report a business loss in 2007 or was this just a loss on his individual personal taxes?



Customer: replied 7 years ago.
Just a loss on his individual taxes.
Expert:  Merlo replied 7 years ago.

Hello again JA Guest,


Unfortunately losses on an individual's tax return cannot be carried forward to future tax years. Any deductions which you claim in any given year only reduce your taxable income, but not below zero, and the excess deductions are unfortunately not applied to future tax years.


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Thank you JA Guest



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