Our business was closed 2017, I paid business expenses in 2018 using my own money. Can I claim this amount in 2018 personal income tax return? How?

[ageegirl]

we had business which was closed in 2017 because of our retirement. In 2018 we used our personal money to pay for expenses for this business, total $1358. What can we do about this amount? can we claim this expenses as business expense in our 2018 personal income tax return? is yes, how can I do it? since we are retired since 2018 therefore we should click "yes" or "No" as " materially participate" in business, Schedule C line G?  Please help and advise.  Thanks

[JulieR · Accepted solution]

Yes,  you may claim the business expenses you paid with personal money/funds on your 2018 return.  You may also answer “yes” to the question about material participation (Schedule C, line G).