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Anonymous
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Would i get more back by filing with my bussiness, we did not sell any thing but we bought stuff for a new bussiness

 
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3 Replies
DDollar
Expert Alumni

Would i get more back by filing with my bussiness, we did not sell any thing but we bought stuff for a new bussiness

Whether or not you will get a larger refund depends upon your overall tax situation.  If you started a business last year and incurred expenses, you should report those expenses even if you did not have any income.  You can only deduct expenses in the year you pay them.  If you are filing as sole proprietor (self employed) you will need to upgrade to TurboTax Self-Employed so you can report your business expenses.

Would i get more back by filing with my bussiness, we did not sell any thing but we bought stuff for a new bussiness

Key word is "started" the business.  Your business is not started until you "open for business",   solicit sales  and actively attempt to sell product or services. For example,  If you purchased shelving and stored it in the garage  but had no products to sell, then the business is not open!   The shelving would be a start up expense that wouldn't be reported until the year that you "open for business"
Anonymous
Not applicable

Would i get more back by filing with my bussiness, we did not sell any thing but we bought stuff for a new bussiness

ok, well we bought product to set up for events last yr, and tables, chair and such but did not sell anything just building up for this yr.   but as long as i dont "sale, set up"  i can claim this on 2017 taxes.  is this correct.
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