business on hold. Still have expenses

In 20' 21' 22' and 23' I did landscaping about half of my time. In 2024 I didn't operate/won't be. I plan to return 2025 but at a smaller pace.

I still have equipment deprecating, still have tax bills, insurance, and a few other things including storage ect but little to no income. I have w2 income (and wife) as well. Can I anticipate claiming my expenses the same - with no income because the business was on hold one year? I don't claim mileage, I claim expenses on a work truck - still doing to maintain for next year. Ect.

Can I claim the bare minimum to maintain the business with no income?

5952

Level 12

Jul 22, 2024 6:38:19 PM

You're either in business or you're not. You can decide whether you're actively seeking out business and operating or have ceased operations. If it's a temporary hold, that's one thing but then all expenses with zero income on a Sch C does not look good on a tax return.

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business on hold. Still have expenses