topic Do you need to file a schedule C if you didnt make any money in After you file

Do you need to file a schedule C if you didnt make any money

juneli09 — Sat, 01 Jun 2019 03:06:53 GMT

I started an LLC in the middle of 2016 for my personal photography business but I never actually started the business up I didn't have time. I already filed my personal tax return and then realized I might need to file a schedule c (form 1040). Do I really need to file it if I received zero dollars from my LLC.

No, you don't have to file Schedule C if you have no inco...

MargaretL — Sat, 01 Jun 2019 03:06:53 GMT

No, you don't have to file Schedule C if you have no income. You may want to if you have any expenses:

https://turbotax.intuit.com/tax-tools/tax-tips/Self-Employment-Taxes/Reporting-Self-Employment-Busin...

Re: No, you don't have to file Schedule C if you have no inco...

2558 — Fri, 12 Jun 2020 23:14:18 GMT

Hello, I started a small business (LLC) middle of 2019 but I only have expenses that year, I also have a rental that is not under the LLC, and I have a W2 from my employer . Do I have to file separate taxes? if so, do I file schedule C for the business, eve though no income that year?

Thank you in advance for your time.

Re: No, you don't have to file Schedule C if you have no inco...

CatinaT1 — Mon, 15 Jun 2020 13:19:31 GMT

This would all be filed on your personal Form 1040.

Even though you don't have income from your business, you would still file a Schedule C with your expenses. Your rental would be included on a Schedule E.

Re: No, you don't have to file Schedule C if you have no inco...

kylehivon — Fri, 08 Mar 2024 00:32:34 GMT

Is this answer still correct in 2024, when filing 2023 taxes?

I filed for an LLC as of 12.21.23 with the intent of launching 2024. $0 income and $0 expenses. I still work my main 9 to 5 job and already filed both my federal and state taxes based on my W2 income. I just learned that the requirement to file taxes for a single member LLC would be to attached a schedule C along with my personal taxes that I had already filed.

Re: No, you don't have to file Schedule C if you have no inco...

MayaD — Fri, 08 Mar 2024 01:06:48 GMT

Yes, that is still correct. You don't need to file schedule C if you have no self employment income or expenses.