bkaytaxes
Employee Tax Expert

Self employed

 

Hello @chelsearuitenberg !

Congratulations on your new business!  Did you start your business in 2023?  Did you have expenses?   Even though you are just starting out and have not made any revenue you can still report the expenses if you have any.  If you don't have any expenses or income there is no need to file the inactive business.  

If you have other income from a job or other sources your would file that income as usual  and also include the business expenses if you had any for the year your started your business.  

You would file business activity for a sole proprietor or a Schedule C.  This form is a part of your regular return and Turbo Tax would guide you step by step through the process.  Here is an article that provide more details that will help you start your new business on the right foot!  New Business Tips! 

Let me know if that answered your questions today! 

 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"