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New Member
posted Apr 17, 2021 5:28:21 PM

Does a newly formed LLC that did not generate income in 2020 and had minimal expenses need to file a return?

0 2 408
2 Replies
Level 15
Apr 17, 2021 5:44:02 PM

If this is a single member LLC that did NOT incorporate and had no income then you do not need to file a Sch C to report the expenses.  

Level 15
Apr 17, 2021 5:57:33 PM

as a single-member LLC, those exepnses would not be deductible in future years