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Do I need to file taxes for DBA partnership that had no income in 2020?

No sales in 2020. This is done from our home.
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1 Best answer

Accepted Solutions
ColeenD3
Expert Alumni

Do I need to file taxes for DBA partnership that had no income in 2020?

No.

  • A domestic partnership must file an information return, unless it neither receives gross income nor pays or incurs any amount treated as a deduction or credit for federal tax purposes.
  • A foreign partnership generally must file an information return if:
    • It has gross income effectively connected with the conduct of a trade or business within the United States,
    • It has gross income derived from sources in the United States, or
    • It is making an election, such as an election to amortize organization expenses.

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2 Replies
ColeenD3
Expert Alumni

Do I need to file taxes for DBA partnership that had no income in 2020?

No.

  • A domestic partnership must file an information return, unless it neither receives gross income nor pays or incurs any amount treated as a deduction or credit for federal tax purposes.
  • A foreign partnership generally must file an information return if:
    • It has gross income effectively connected with the conduct of a trade or business within the United States,
    • It has gross income derived from sources in the United States, or
    • It is making an election, such as an election to amortize organization expenses.

Do I need to file taxes for DBA partnership that had no income in 2020?

Thank you answering this so quickly.

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