How do I need to file this year if I started a sole proprietorship business in 2023? I have no revenue but have start up costs. Should I wait until 2024 to claim?

[MinhT1]

If you had no oncome and only startup costs for your business in 2023, you do not report that business on your tax return in tax year 2023.

You can elect to deduct up to $5,000 of start-up costs in the year in which the active trade or business begins. Any remaining costs must be amortized.

If you started your business in 2023 but it begins to become active only in 2024, you can deduct up to $5,000 of start-up costs in 2024.

You can also elect not to deduct those start-costs and amortize them.  Start-up costs are amortized over a period of 180 months (15 years).

Please read this IRS document for more information, under the heading Business Startup Costs.