
Anonymous
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posted
June 3, 2019
12:25 PM
last updated
June 03, 2019
12:25 PM
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Should I put the EIN for my new business on my 2018 tax return if I did not get it until January 2019?
I have no income in 2018 related to this business, however I do have some expenses that I incurred in the startup phase.
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Should I put the EIN for my new business on my 2018 tax return if I did not get it until January 2019?
Yes, you will use the EIN if you are "in fact" required to file a SCH C for 2018. I assume the business is a sole proprietorship or single member LLC. If your business was not "open for business" in 2018, then you will not be filing a SCH C with your 2018 tax return at all. If you opened in 2019 you'll deal with this next year on the 2019 tax return.
Expenses incurred prior to being "open for business" are start-up expenses. Those start up expenses are claimed in the first year the business is open. It does not matter in what year those start up expenses were incurred either.
Expenses incurred prior to being "open for business" are start-up expenses. Those start up expenses are claimed in the first year the business is open. It does not matter in what year those start up expenses were incurred either.
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Should I put the EIN for my new business on my 2018 tax return if I did not get it until January 2019?
Yes, you will use the EIN if you are "in fact" required to file a SCH C for 2018. I assume the business is a sole proprietorship or single member LLC. If your business was not "open for business" in 2018, then you will not be filing a SCH C with your 2018 tax return at all. If you opened in 2019 you'll deal with this next year on the 2019 tax return.
Expenses incurred prior to being "open for business" are start-up expenses. Those start up expenses are claimed in the first year the business is open. It does not matter in what year those start up expenses were incurred either.
Expenses incurred prior to being "open for business" are start-up expenses. Those start up expenses are claimed in the first year the business is open. It does not matter in what year those start up expenses were incurred either.
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