Can I deduct the minimal expenses my consulting business had for 2020 even if I had no income due to COVID. Do I need the self-employed software version?
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1 Best answer
MinhT1
Expert Alumni
Jan 18, 2021 8:21:09 AM
Yes, if your business was still active in 2020, you can deduct necessary and ordinary expenses even if you had no income.
Yes, you'll need to use TurboTax Self-employed to file a Schedule C and claim these expenses.
1 Replies
MinhT1
Expert Alumni
Jan 18, 2021 8:21:09 AM
Yes, if your business was still active in 2020, you can deduct necessary and ordinary expenses even if you had no income.
Yes, you'll need to use TurboTax Self-employed to file a Schedule C and claim these expenses.