I have a single member LLC. I had no business or financial activity in 2017 how should I file this

rbrconstructions · ‎June 3, 2019

WillK · ‎June 3, 2019

It is best to file a zero return for the business is there was no activity. You technically do not need to file a return, but it wil help the IRS piece together your tax history and future especially if you filed one for 2016 that had activity and one in 2018 for activity.

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WillK · ‎June 3, 2019

It is best to file a zero return for the business is there was no activity. You technically do not need to file a return, but it wil help the IRS piece together your tax history and future especially if you filed one for 2016 that had activity and one in 2018 for activity.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

thejourneyinprog · ‎June 3, 2019

What about if client never showed the single member LLC on Schedule C for last 3 years? There was no activity, thus, he never showed it. He had to pay settlement charges for a lawsuit against the LLC in 2018. Plus, he filed bankruptcy for the LLC in 2018. Can he claim the settlement charges on Schedule C for LLC?

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I have a single member LLC. I had no business or financial activity in 2017 how should I file this