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Use the GENERAL option for any income not on a 1099 .... but if you have a working business that has had no income simply skip the income section. But if the business has not yet "opened it's doors" then you cannot take the start up expenses yet.
If you are new to being self employed, are not incorporated or in a partnership and are acting as your own bookkeeper and tax preparer you need to get educated ....
If you have net self employment income of $400 or more you have to file a schedule C in your personal 1040 return for self employment business income. You may get a 1099-NEC for some of your income but you need to report all your income. So you need to keep your own good records. Here is some reading material……
IRS information on Self Employment….
http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Self-Employed-Individuals-Tax-Center
Publication 334, Tax Guide for Small Business
http://www.irs.gov/pub/irs-pdf/p334.pdf
Publication 535 Business Expenses
http://www.irs.gov/pub/irs-pdf/p535.pdf
Home Office Expenses … Business Use of the Home
https://www.irs.gov/businesses/small-businesses-self-employed/home-office-deduction
https://www.irs.gov/pub/irs-pdf/p587.pdf
Publication 463 Travel, Gift, and Car Expenses
https://www.irs.gov/pub/irs-pdf/p463.pdf
Publication 946 … Depreciation
https://www.irs.gov/pub/irs-pdf/p946.pdf
Thank you for the added advice. I started an LLC in October. I have purchased inventory, equipment, and etc. I have not made any income yet. To better rephrase my question, TurboTax shows an error (“Needs Review”) if I try to skip the income section. Since my business has made no income, how do I report it without an error code.
Is this your ONLY income on the return ? If so enter $1 of business income to allow you to efile the return.
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