Say someone applies for and gets a business credit card for any amount of money.
The purpose of this is to distinguish the money spent between "regular" use and "business" use (i.e., paid services, merchandise, payroll, etc.). If I use 'X' amount of money on a business credit, but overall sustain a net loss over the period, can I/anyone claim this on their taxes (Schedule C -- 1040).
The 1040 Profit or Loss is for calculating the net gains/losses in a business. Since business credit is primarily for business, would a net loss from a business/etc. overall mean you can claim a loss?