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I have self-employed business expenses, but no income because all my work is volunteer at this point. How do I report that?

I have conference fees and bought professional development materials. Can I report those?
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Fern
New Member

I have self-employed business expenses, but no income because all my work is volunteer at this point. How do I report that?

You should include your start-up costs in your tax return.  IRS will allow you to deduct up to $5,000 in start-up costs and $5000 in organizational costs.  Anything over these amounts will be amortized in future years.

See the article below for a list of what is included in start-up and organizational costs. http://quickbooks.intuit.com/r/taxes/3-tax-deductions-available-only-to-startup-businesses/ .

After you enter your business profile information, you can enter your start-up costs.  See screenshot below.
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