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Business & farm
It depends.
If your business had no income and no expense in 2020 and if it is a sole proprietorship or a LLC taxed as a partnership, then you are not required to file a Schedule C (for a sole proprietorship) or a tax return (form 1065 for a LLC).
If your business is taxed as a S-Corp, then you are required to file a tax return (form 1120S).
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March 11, 2021
7:09 AM