I began a business 12/2013 but did not receive income for the business. I did receive income from another employer and filed it on my 1040. Can I amend my 1040 and claim expenses I paid towards the company for 2013 & 2014 when no income was received during these years and will I get a refund for business expenses paid?
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Yes you can go back and amend you returns to include the business expenses you did not claim before. You will need to amend each year and include only those expenses for that year you are amending.
Yes you will need to amended the returns to create a Schedule C. The program will walk you through how to amend, and how to include the information needed and where to report it.
Amended returns do not
“catch up” to your original return and replace them; they are processed as two
separate returns.
Amended returns have to be printed and filed by mail. It can take the IRS
up to 12 weeks or longer to process them. If you are due a larger refund
than on your original return, your amended return should only show the
difference and you will receive a separate check for it. If you owe money
on your amended return, it will show only the new amount owed, you will have to
mail a check with the return. Click here for amending instructions: https://ttlc.intuit.com/replies/3288565
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