Do I need to include a at home wine distributor business if I didn’t make any money and only did it for a few months?

lorenma — Thu, 06 Jun 2019 16:09:59 GMT

That depends if this was your only source of income and y...

Vanessa — Thu, 06 Jun 2019 16:10:01 GMT

That depends if this was your only source of income and you would not otherwise need to file a return, then the IRS says you must file a return if your net earnings (income minus expenses) were $400 or more. So, if you made less than $400 and did not have any other taxable income then you would not need to file.

However, if you are required to file a return you will need to include all taxable income from ALL sources. There is not a dollar limit exclusion for including your self-employment income on your return.

If you literally made $0 you do not need to include anything regarding the business on your return.

topic Do I need to include a at home wine distributor business if I didn’t make any money and only did it for a few months? in Retirement tax questions

Do I need to include a at home wine distributor business if I didn’t make any money and only did it for a few months?

That depends if this was your only source of income and y...