How do I report a sole Proprietor Company with zero income?

If you started a business in 2021 but have not yet earned any income, you may still enter eligible expenses by following these steps:

1. Open or continue your return in TurboTax
2. Search for Schedule C and select the Jump to link at the top of the search results
3. Answer Yes on the Did you have any self-employment income or expenses? screen.
4. Answer the questions on the following screens until you arrive at Let's enter the income for your work and select Continue.
5. Look for categories of expenses that you may deduct. Keep in mind that only expenses directly related to your new company may be deducted. This article lists common expenses for various professions.

Also, the IRS can determine that your business is considered a hobby and disallow expenses you are deducting. To reduce the chance of this, please look at some of the tips in this TurboTax article.