This tax year, I have not had any expenses OR sold any paintings (sole proprietorship). But not sure if I still need to file a Schedule C as I do every other year I did have income from it.
When I file my Schedule C normally I do keep and report inventory under costs of good sold section every year. Even without expenses or income to report, I wondered if I still needed to file just for the inventory part to remain current as of this year?
And If I don't file one this year but NEXT year when I have income again and File I will be carrying over "inventory at end of year" from 2 tax years ago? Is that ok?
