To clarify: We have to file the 1065 since we released a product that has not turned any revenue at this point. We are working on other products with high hopes:) Therefore, the question is: Since we have zero income for this year, can we file the 1065 and not claim the minor deductions to keep it easy? Or are we required to report the deductions since we are filing the 1065? (My understanding from the IRS article is that if deductions are greater than profit (basis), then you don't claim the deductions but rather claim them in future years you have profit). Please help.
Thanks:)
