Get your taxes done using TurboTax


@cyntthor wrote:

 

My husband is asking if there Is there a way to file quarterly zero income and monthly expenses through turbo tax? So that we can provide something to the bank so that they will unfreeze the credit card?


There is no such thing as a quarterly tax return.  At this point, you would have to file an amended return for 2023, to include a schedule C for the business that shows no income and no expenses.  Turbotax may not want to file a return that has no change in money owed or refund due, you might have to file it manually.

 

Of course, what equipment and expenses are you buying?  If they are for the business, and he is actively engaged in business activities, then he should be filing a return to capture those expenses, they can create a deductible loss (sometimes in the year they occur, sometimes carried forward to when the business is active again).  If he is not using the business credit card for business, then maybe the credit card company is on the right track.  If they provide enhanced benefits to business cardholders, and he isn't engaged in business any more, maybe he hasn't earned those benefits.  You may need to check the credit card terms of service.