Business expenses incurred in 2024 during business pre-launch

[FLperson14]

I started formed a single-person LLC in 2024. I incurred many business expenses, but the business is not 'active' yet (I am not yet selling my product). Can I write these expenses off in TurboTax for 2024 even though the business is not officially launched? I am trying to do so as self-employment, but TurboTax won't let me indicate that there is Zero income. I can enter the expenses, but can't continue without entering income (because there is no income yet). Any suggestions? Am I approaching this wrong?

[LeticiaF1]

Those expenses you have are considered Start-up Business expenses, you can deduct them in the year your business is operational. ‌If your business wasn't operational until 2024, you should wait to deduct the expenses when the business starts.  

If you would like to see more information about Start-ups, see the TurboTax help article below:

Start-up Business Tax Tips

Start-up expenses have to be amortized with a recovery period that starts with the month the business begins. ‌See the following IRS page for more information on deducting start-up expenses. 

Here’s how businesses can deduct startup costs from their federal taxes

Feel free to reach us again if you have additional questions.