Filing a Sch C for your business, the IRS knows there are up and down years. Here is what you need to do:
- keep copies of any assets you are depreciating, like your car for when you start again.
- trash the business for 2024 since you have nothing to report
- when you start again, you will enter your vehicle and other assets using the depreciation schedules - same dates and dollars as used before.
Always keep a copy of your return for your records, we only hold them a a little while vs what the IRS requires of a business owner.
See Recordkeeping and Self-employed individuals tax center
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