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

[pastoufmsam]

What is a 20q7 form?

[CathiM · Accepted solution]

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.

[pastoufmsam]

I was told that I needed to file an 20q7 form. What's that?

[CathiM]

Could that be a typo? do they mean 2017 form. I can't find anything on 20q7 form.  Who was it that told you?

[pastoufmsam]

Yep, for sure it was a typo from a friend who was trying to answer my question. No such thing as 20q7 form apparently ...thanks for your answers, very helpful!