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Record expenses but no income

I am a realtor. I have many expenses, but no income from the prior year. How do I record my expenses and 0 income to receive a return? 

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Accepted Solutions
DoninGA
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Record expenses but no income

If you are not a W-2 employee of the real estate firm, then you are a sole proprietor/independent contractor that would report their income and expenses on a Schedule C.  You can enter your expenses without having any income on the Schedule C.

 

To complete a Schedule C using the TurboTax online editions you will need to upgrade to the Premium edition.

 

See this TurboTax support FAQ for Schedule C - https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/enter-schedule-...

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1 Reply
DoninGA
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Record expenses but no income

If you are not a W-2 employee of the real estate firm, then you are a sole proprietor/independent contractor that would report their income and expenses on a Schedule C.  You can enter your expenses without having any income on the Schedule C.

 

To complete a Schedule C using the TurboTax online editions you will need to upgrade to the Premium edition.

 

See this TurboTax support FAQ for Schedule C - https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/enter-schedule-...

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