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rocopela
New Member

My business did not receive, nor did I receive any income from my business this year. Do I still file?

Should I simply file my personal taxes?
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4 Replies

My business did not receive, nor did I receive any income from my business this year. Do I still file?

What kind of business entity do you have ?   Are you a sole proprietor filing a Sch C or did you incorporate ?
Carl
Level 15

My business did not receive, nor did I receive any income from my business this year. Do I still file?

Basically, if you were "Open for business" for even one day in the tax year, you're required to file a return. Until you file a return reporting your business as closed, sold or otherwise disposed of, the IRS is expecting a return of some type reporting business income/expenses every year, even if the income/expenses is zero. This is particularly true if your business has any assets, or claims any vehicle use.

My business did not receive, nor did I receive any income from my business this year. Do I still file?

For a personal schedule C self employment business you can still deduct your expenses.

My business did not receive, nor did I receive any income from my business this year. Do I still file?

You are asking from TT Live, for which you are paying extra. Please contact your Live rep.

https://ttlc.intuit.com/questions/4124827-how-do-i-connect-with-a-tax-expert-in-turbotax-live

Live help is available M-F during normal business hours.


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