Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 3
posted Apr 14, 2024 9:29:49 AM

Limited Liability Company (LLC) No Work for Tax Year 2023

Good Afternoon,

 

Is there IRS guidance that suggests you should not file a Schedule C if you had no company activity during the Tax Year?

 

 

As a single-member LLC in Maryland, if there is no business activity and no income or expenses to report, should I include a statement regarding the LLC's status?


Please advise,
BAdams

0 2 4195
2 Replies
Expert Alumni
Apr 14, 2024 9:35:17 AM

If your single-member LLC had no income or expenses in 2023, there's nothing to report on Schedule C.

 

There's no need to include a statement to that effect on your tax return.

Level 3
Apr 14, 2024 9:51:13 AM

Thank You!