https://ttlc.intuit.com/community/business-taxes/discussion/i-have-no-income-from-my-small-business/01/608381#M23829 Thu, 06 Jun 2019 06:02:13 GMT jbunge_86 2019-06-06T06:02:13Z https://ttlc.intuit.com/community/business-taxes/discussion/i-have-no-income-from-my-small-business/01/608381#M23829 Thu, 06 Jun 2019 06:02:13 GMT https://ttlc.intuit.com/community/business-taxes/discussion/i-have-no-income-from-my-small-business/01/608381#M23829 jbunge_86 2019-06-06T06:02:13Z https://ttlc.intuit.com/community/business-taxes/discussion/based-on-the-irs-requirement-if-your-business-makes-less/01/608387#M23830 <P>Based on the IRS requirement, if your business makes less than $400, you usually do not have to file if it's your only income.&nbsp; Please see the IRS interactive questionnaire <A href="https://www.irs.gov/uac/do-i-need-to-file-a-tax-return" rel="nofollow" target="_blank">Do I need To File A Tax Return</A> to determine, with accuracy, if you have to file a return or not.&nbsp;&nbsp; While you may not have made any profits, if since you have expenses, you may want to file a Schedule C to claim them.&nbsp; If you do not claim your expense in the year you pay them, you may not be able to deduct them in the future when you do have income.&nbsp; Please read the following article to guide your decision; <A href="https://turbotax.intuit.com/tax-tools/tax-tips/IRS-Tax-Return/Can-I-File-an-Income-Tax-Return-if-I-Don-t-Have-Any-Income-/INF14238.html" target="_blank">Can I File An Income Tax Return If I Don't Have Any Income?</A>&nbsp; It will provide you with advice on filing if you have any expenses, such as the cost of your business license.</P> <BR /><BR /> Thu, 06 Jun 2019 06:02:15 GMT https://ttlc.intuit.com/community/business-taxes/discussion/based-on-the-irs-requirement-if-your-business-makes-less/01/608387#M23830 Melaine 2019-06-06T06:02:15Z