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errecart3
New Member

If I did not do any business with my business in 2017 (no gain, no loss), do I need to report it?

 
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CathiM
New Member

If I did not do any business with my business in 2017 (no gain, no loss), do I need to report it?

The IRS requires that you report the income and expenses of your business even if you had no profit or loss.  You may need to show your tax return when you apply for loans, etc.  Although you had no profit, it shows your business was ongoing and could be helpful to you.

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CathiM
New Member

If I did not do any business with my business in 2017 (no gain, no loss), do I need to report it?

The IRS requires that you report the income and expenses of your business even if you had no profit or loss.  You may need to show your tax return when you apply for loans, etc.  Although you had no profit, it shows your business was ongoing and could be helpful to you.

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