Small business reporting

[pblb0426081630p]

My wife and I each had a small business that we discontinued in 2016.  They were very small and nothing ever materialized from either.  A small amount of expenses were reported in 2015, but no income or expenses were realized in 2016.  Do you we need to report anything?

[Phillip1 · Accepted solution]

If there were no income and expenses for 2016 and the businesses were not partnerships or corporations, you will not need to file anything for 2016.

[pblb0426081630p]

Thank you.