Yes. If your deductible expenses from operating your business are more than your business income from the tax year, your business operated at a net loss. This applies to both business owners and self-employed workers such as rideshare drivers.
Go to this section in Credit Karma Tax: Business Income
That said, the amount of loss you can deduct from your business income may be limited. Credit Karma Tax can help you figure out how much loss you can deduct.
The IRS has different rules and definitions for businesses and hobbies, use Hobby or Business? IRS Offers Tips to Decide to help determine which category your activity falls under.
As a result of the Tax Cuts and Jobs Act of 2017 (2017 tax reform): hobby expenses are no longer deductible.
Source: irs.gov