Hello, I hope you're all doing well.
Unfortunately, I had a rough income year altogether. In previous years, I've claimed 1099s (when received) along with Schedule C (expenses). Additionally, I have a part-time job with a W-2. However, 2024 was particularly challenging for me. My W-2 income was minimal, and I had no income as a real estate agent.
When I reached the section for claiming expenses, my tax refund actually decreased. With that said, here are my questions:
Am I obligated to file Schedule C in my situation? If I don't, I could potentially receive a larger refund.
Will not filing Schedule C trigger an audit?
I'm considering filing it anyway since I have been doing so, but I’m concerned about losing out on some of my refund (which, by the way, I don't entirely understand why this is happening).
Thanks in advance!
