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February 7, 2024
Question

Business expenses after closing a sole proprietorship

  • February 7, 2024
  • 1 reply
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I closed my healthcare practice in 2022. Medicare requires that I provide former patients with means of contacting me for their records. So, I am am maintaining phone and fax lines for 10 years under this requirement. Can I deduct these expenses even though the practice is closed and I have no continuing business income?

1 reply

February 7, 2024

No.  Once the business has been closed, and you filed your final return, you can no longer claim expenses for the business. 

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February 7, 2024

Thanks for the prompt reply.