I started a sole proprietary side business in 2021 trying to make some electronic gadget starting with prototyping activities. But I have not registered any business entities, such as an LLC yet. I have not sold anything related to relevant business activities, however I have incurred some notable cost, such as acquiring instruments, tools, and parts to build prototypes. I wonder if I am allowed to use Schedule C to deduct start up expenses?
If I have another business activity, e.g. crypto mining that is not related with the above business activity, do I have to file another Schedule C, or I shall lump up the two into one form?
Many thanks!
