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New Member
posted Jun 6, 2019 5:17:15 AM

I established an LLC in 2016 which generated no income but had expenses. The LLC is a disregarded entity for tax purposes. How/Where do I deduct these expenses?

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1 Best answer
New Member
Jun 6, 2019 5:17:17 AM

Since this is a disregarded entity (single-member LLC), you will include the business information and expenses on schedule C.

Important note:  You are only able to deduct your expenses in the year that you paid them - you cannot save them for a future year.

To get to the input screens for your business:

  • Once signed into your account, click on Search at the top of the screen
  • Input "schedule c" into the search box and hit Enter
  • The first link available should be Jump to schedule c - click on this link
  • You will be taken to the screens to enter your income, business information, and expenses
When you come to the input screen for your income, simply do not enter anything. Work through the other screens that come up (business information, etc.) and then you will be able to enter your expenses.  

1 Replies
New Member
Jun 6, 2019 5:17:17 AM

Since this is a disregarded entity (single-member LLC), you will include the business information and expenses on schedule C.

Important note:  You are only able to deduct your expenses in the year that you paid them - you cannot save them for a future year.

To get to the input screens for your business:

  • Once signed into your account, click on Search at the top of the screen
  • Input "schedule c" into the search box and hit Enter
  • The first link available should be Jump to schedule c - click on this link
  • You will be taken to the screens to enter your income, business information, and expenses
When you come to the input screen for your income, simply do not enter anything. Work through the other screens that come up (business information, etc.) and then you will be able to enter your expenses.