Lost major client in 2017, made no money. Can I still file under same business as a no income for 2017? I have made income on this company for 5-years

[greg9]

Had business for 5-years; didn't make any income from it in 2017; can I still file business deductions against it?

[Hal_Al · Accepted solution]

Yes, if the expenses were for that business. You will have a net loss on schedule C, that can be deducted from other income on your form 1040.

[Critter]

Yes you can if you were trying to make money, mitigate expenses and are making every effort to find other income sources. The IRS expects business to have an off year from time to time like realtors ... they may not have sales in every tax year but they still have expenses.  Keep excellent records in case of an audit.