I just started my small LLC and haven't made any money due to website not being up and running do I need to declare it now?

[sspickett2]

Not making money just paying out for building website and getting equipment for our business so what do I do?

[LeticiaF1]

If your business wasn't not operational in 2024, then you won't need to report your business yet until it becomes operational.  The expenses you have to get your business started are called start-up expenses.  For Start-up Business expenses, you can deduct them in the year your business is operational.  If your business won't be operational until 2024, you can wait to deduct the expenses when the business starts.  

If you would like to see more information about Start-ups, see the TurboTax help article below:

Start-up business tax tips