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juneli09
New Member

Do you need to file a schedule C if you didnt make any money

I started an LLC in the middle of 2016 for my personal photography business but I never actually started the business up I didn't have time. I already filed my personal tax return and then realized I might need to file a schedule c (form 1040). Do I really need to file it if I received zero dollars from my LLC.
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5 Replies
MargaretL
Expert Alumni

Do you need to file a schedule C if you didnt make any money

No, you don't have to file Schedule C if you have no income.  You may want to if you have any expenses:

https://turbotax.intuit.com/tax-tools/tax-tips/Self-Employment-Taxes/Reporting-Self-Employment-Busin...

2558
New Member

Do you need to file a schedule C if you didnt make any money

Hello, I started a small business (LLC) middle of 2019 but I only have expenses that year, I also have a rental that is not under the LLC, and I have a W2 from my employer . Do I have to file separate taxes? if so, do I file schedule C for the business, eve though no income that year?

 

Thank you in advance for your time.

CatinaT1
Employee Tax Expert

Do you need to file a schedule C if you didnt make any money

This would all be filed on your personal Form 1040.  

 

Even though you don't have income from your business, you would still file a Schedule C with your expenses.  Your rental would be included on a Schedule E.

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Do you need to file a schedule C if you didnt make any money

Is this answer still correct in 2024, when filing 2023 taxes? 

 

I filed for an LLC as of 12.21.23 with the intent of launching 2024. $0 income and $0 expenses. I still work my main 9 to 5 job and already filed both my federal and state taxes based on my W2 income. I just learned that the requirement to file taxes for a single member LLC would be to attached a schedule C along with my personal taxes that I had already filed. 

MayaD
Employee Tax Expert

Do you need to file a schedule C if you didnt make any money

Yes, that is still correct. You don't need to file schedule C if you have no self employment income or expenses. 

 

 

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