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Single-member professionalLLC (PLLC) was created early in 2018; however, no business activity occurred-no profits, expenses, no EIN attained etc. Do I need to file taxes?

Does a schedule C need to be filled because of the creation of the PLLC or can that be skipped because no activity occurred?
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Accepted Solutions
WillK
Intuit Alumni

Single-member professionalLLC (PLLC) was created early in 2018; however, no business activity occurred-no profits, expenses, no EIN attained etc. Do I need to file taxes?

Since the business was not open and operational for 2018, you do not need to file a Schedule C. Next year, however, you will file a return and add your start-up expenses to the 2019 return. 

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2 Replies
WillK
Intuit Alumni

Single-member professionalLLC (PLLC) was created early in 2018; however, no business activity occurred-no profits, expenses, no EIN attained etc. Do I need to file taxes?

Since the business was not open and operational for 2018, you do not need to file a Schedule C. Next year, however, you will file a return and add your start-up expenses to the 2019 return. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Single-member professionalLLC (PLLC) was created early in 2018; however, no business activity occurred-no profits, expenses, no EIN attained etc. Do I need to file taxes?

I appreciate you! Thanks much
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