Wife tried Mary Kay in 08, filing questions..
Well the wife tried out Mary Kay sales in 2008 and now I am trying to do a Schedule C for the first time. After its all said and done of course we will be at a loss. Is it mandatory to file the C for this type of sales even though it was a loss? She will not be selling it anymore, and only did a few months last year.
She also bought some of the inventory in Dec 07, but I did not add that on 07's return, can I add that on 08's return or do I need to file an amended 07 to correctly do 08?