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Get your taxes done using TurboTax
@Tucan wrote:
No - we aren’t open for business.......
Then you should have neither income nor expenses, but only startup costs and, possible inventory and/or asset purchases.
As a result, you would not file until the tax year that you are actually open for business at which time you can deduct (or amortize, depending upon the amounts) startup costs.
November 27, 2022
11:01 AM
1,424 Views