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New Member
posted Mar 2, 2020 11:10:03 AM

I formed a C corp in 2019 but had no income and only expense was formation. Do I need to file a return?

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2 Replies
Level 15
Mar 2, 2020 11:26:13 AM

"Do I need to file a return?"

 

Yes, unless exempt under Section 501, all domestic corporations must file an income tax return whether or not they have taxable income.

 

See https://www.irs.gov/instructions/i1120#idm140697359806352

 

 

Expert Alumni
Mar 2, 2020 11:26:31 AM

Yes. It is not like a Schedule C, where you can just not file it. It is a formal business and must be accounted for, even with no income.