Tax Return

Forum|Forum|1 year ago
March 9, 2025
1 reply
5 views

I opened a company in November 2024. I had no profits or expenses. I didn't even have a bank account yet. Corporation. Do I still need to file a tax return? I had absolutely no transactions.

Not A Product Question

MinhT1

Level 15

It depends.

If your company is an LLC, then you do not need to file a tax return for it if it had no income or expenses.

If your company is a corporation or if it has elected to be taxed as an S-Corp, then you'll need to file a tax return. You have to file form 1120 for a C-Corp or form 1120S for an S-Corp.

If you have to file, you can use TurboTax online for small businesses to prepare form 1120 or 1120S by clicking here

Or you can use TurboTax Business CD/Download on a Windows computer (not compatible with Mac).

You can purchase TurboTax Business CD/Download from this page.

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