I have my own business but in 2017 i made no money and my business acct closed for insuffienct funds. i was also a w2 earner. do i report my business to be a loss? how?
I have my own business but in 2017 i made no money and my business acct closed for insuffienct funds. i was also a w2 earner. do i report my business to be a loss? how?
You would need to report that business and your W-2 in the same tax return. You would enter your Form W-2 just like normal and then follow the instructions in the FAQ below to enter those business expenses (to hopefully reduce your taxable income).
I have my own business but in 2017 i made no money and my business acct closed for insuffienct funds. i was also a w2 earner. do i report my business to be a loss? how?
You would need to report that business and your W-2 in the same tax return. You would enter your Form W-2 just like normal and then follow the instructions in the FAQ below to enter those business expenses (to hopefully reduce your taxable income).
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