Taxes - Using your business/aquarium expenses for write-offs?

[BMW Rider]

Originally Posted by marcingo

From what I have learned in tax class up to now is that you can only write off expenses off of revenues related to the business. If you sold nothing you cant really write it off of your other unrelated income. But then again this is first level tax so I may be wrong.

I believe that is correct, but you may be able to carry forward the costs for future income. Might be best to talk to an accountant.