Hello everyone,
I hope you all are being well in these tough times.
I am filing joint return with my wife. She is on a w-2, I am self-employed. We're filing with TurboTax Self-Employed. In 2019 I started a Sole Proprietor online retail business project (clothes) which resulted to spending for inventory but very little sales. Basically my business expenses are huge in comparison to income. Can I file Schedule C for this business if my plan is to sell whatever I can with no profit (ad costs will eat it) and then liquidate what's left? Is there anything important I need to know?
Thank you so much!
Best Regards
Ivan
