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Business & farm
Your Federal form 1040 Schedule C has no income and no expenses at all to report? Are there any assets carried over from last year to be depreciated? Please clarify.
If you expect to continue doing business in the future and simply had a year of inactivity, due to Covid issues, I would advise you to file with zero income. This will retain the continuity of the business for future purposes.
See also this.
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‎January 31, 2022
7:04 AM