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Level 2
June 6, 2019
Solved

I created my llc during summer of 2017, not made sells yet. Do I still need to file for taxes?

  • June 6, 2019
  • 5 replies
  • 26 views
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No, not unless you had other income. You are only required to report net earnings from self-employment of $400 or more.  Net earnings is gross sales minus business expenses.

5 replies

Level 2
June 6, 2019
What is a 20q7 form?
Answer
June 6, 2019

No, not unless you had other income. You are only required to report net earnings from self-employment of $400 or more.  Net earnings is gross sales minus business expenses.

Level 2
June 6, 2019
I was told that I needed to file an 20q7 form. What's that?