Alright. I have basically already completed the majority of my return and walked through the entire process as "employed", so all my income and deductions have been entered for that "portion". I will go back and revisit the self employment section I guess now, and walk through the questions one by one.
For years I have had a side hobby/business that some years has made money, other years lost money, but regardless I created an LLC for when I started it in 2005. When I lost my "employed" job at the end of March, I was unable to find another job in that field...can I consider myself "self employed" with my LLC at the point where I lost my "employed" job then? I have already entered all the income and expenses for the LLC (via a schedule C I believe)...but it wasn't really under the "self employed" section.
At the end of the year I purchased a franchise and officially became "self employed" with that venture, and again I created another LLC for the franchise business. I realize I will have to go through and enter those expenses and whatnot for that as a separate business, but am really wondering if I can claim that I was self employed from the point of losing my "employed" job at the end of March 2024.
