angeleyes92083
New member
Trying to file my taxes for 2010 and the tax software wants to know if I want to take a Net Operating Loss. Here's my situation...
In 2010 I didn't work very much, but had money from saving and that I borrowed from family (in an interest free loan) to support myself. I am able to deduct mortgage interest, property taxes, interest paid on student loans, and major medical expenses (because I didn't have health insurance). So my deducations are higher than my income.
Am I able to take an NOL or is that only for business or self-employeed people?
In 2010 I didn't work very much, but had money from saving and that I borrowed from family (in an interest free loan) to support myself. I am able to deduct mortgage interest, property taxes, interest paid on student loans, and major medical expenses (because I didn't have health insurance). So my deducations are higher than my income.
Am I able to take an NOL or is that only for business or self-employeed people?