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Ok this makes sense. The conversation about putting the business on schedule C is not about when the business “opened its doors”. From the above it sounded like it’s more about when the business I making the money not becoming operational.
so that means I was correct to file it on schedule-c if in the first year I had startup costs as well as starting operations and already incurring operational costs. Even though there was no revenue at all in the first year, was I correct to put the expenses on schedule c?
April 9, 2025
12:55 PM