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sidwell50
New Member

I started a real estate business Oct 2019. I did not earn a commission check in 2019. I did have over $3k in start up expenses. How do I file and enter zero income?

 
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5 Replies
MinhT1
Expert Alumni

I started a real estate business Oct 2019. I did not earn a commission check in 2019. I did have over $3k in start up expenses. How do I file and enter zero income?

If your business was active in 2019 but had no income yet, you can claim the start-up costs on Schedule C of your tax return.

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-78
New Member

I started a real estate business Oct 2019. I did not earn a commission check in 2019. I did have over $3k in start up expenses. How do I file and enter zero income?

I have zero income, but not a start up with expenses. How do I put zero on  my schedule C?

DawnC
Expert Alumni

I started a real estate business Oct 2019. I did not earn a commission check in 2019. I did have over $3k in start up expenses. How do I file and enter zero income?

Just skip the income section and enter your business details and your operating expenses.   It is not usual to have little or no income in the beginning.   As long as you were attempting to turn a profit, you can claim your business related expenses.  

 

To enter your home office, vehicle mileage, supplies, and other common business expenses:

 

  1. Type Schedule C in the Search box.
  2. Select the Jump to link.
    • If this is your first time working in this section: You’ll be asked some questions about your self-employment work and income and then have a chance to enter your expenses.
    • If  you have already entered some information about your self-employment work:
      • Select Edit next to your business and confirm your general business info if asked.
      • Select Add expenses for this work.
  3. Select an expense type that you had.
  4. Enter your expense description and amount. (We may ask you some additional questions for certain types of expenses.)
  5. If you had more than one expense for a type, select Add another group to include them all.
  6. If you have additional expenses of other types, repeat steps 3 through 5 above to add more.

 

If you use TurboTax CD/Download Home Business follow these instructions to enter your expenses.

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**Mark the post that answers your question by clicking on "Mark as Best Answer"
-78
New Member

I started a real estate business Oct 2019. I did not earn a commission check in 2019. I did have over $3k in start up expenses. How do I file and enter zero income?

Dawn, I have done everything you suggested, but when double checking the Federal it keeps asking me to review  the business part.  Suggestions?

-78
New Member

I started a real estate business Oct 2019. I did not earn a commission check in 2019. I did have over $3k in start up expenses. How do I file and enter zero income?

Turbo Tax keeps asking me for a dollar amount and I had ZERO trying to make money in Real Estate.

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