My shop closed nearly a year by executive order and city ordinance for COVID. Though other business people in my COUNTY continued work, I couldn't. How do I report this?

[AliensMaybe-2]

how do i report my closing on my taxes. I hope to re-open my business when i'm allowed. Building is sitting empty. What do i report?

[ErnieS0 · Accepted solution]

If you plan on re-opening you should not close out your business for tax purposes. Report any income and expenses you had while operating in 2020. You can also deduct any necessary expenses to maintain your business while it was closed such as rent and utilities on your building.