JulieS
Expert Alumni

Get your taxes done using TurboTax

Yes, you can file an activity on Schedule C without having a business entity set up, but you must meet the standard of being a business rather than a hobby. 

 

The IRS looks at several factors when classifying an activity as a business such as:

  • Whether the taxpayer carries out the activity in a businesslike manner and maintains complete and accurate books and records.
  • Whether the time and effort the taxpayer puts into the activity show they intend to make it profitable.
  • Whether they depend on income from the activity for their livelihood.

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