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Level 1

Question

Schedule C filing

Forum|Forum|6 years ago
May 14, 2020
2 replies
16 views

As a theatre director, my husband has always filed a Schedule C and taken expenses. This year he has no income as a director, but still has expenses. Can we still file a Schedule C?

Level 15

Yes.

You are not required to show net positive income every year on your Schedule C. But understand that if you repeatedly show a loss on your Schedule C, the IRS may start to wonder if you are in business for profit or if this is just a hobby.

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Level 15

Yes, you can deduct expenses and have a net loss if he made a bona fide effort to make a profit. Otherwise the IRS could consider the activity a hobby and disallow expenses.