turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I opened a business licence in 2016 but did no actual work do to illness in the family. How do I handle it on y federal tax

I had no employment at all yet I did receive some funds from my IRA
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions

I opened a business licence in 2016 but did no actual work do to illness in the family. How do I handle it on y federal tax

Even if you received your business license in 2016, you do not have to report anything until you actually start working at the business.  Only the funds from the IRA would be listed as your income.

View solution in original post

1 Reply

I opened a business licence in 2016 but did no actual work do to illness in the family. How do I handle it on y federal tax

Even if you received your business license in 2016, you do not have to report anything until you actually start working at the business.  Only the funds from the IRA would be listed as your income.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies