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Level 2
posted May 31, 2019 10:03:38 PM

Tax Year Prior to 2020: I have a Single-Member LLC with $0 income. Do I need a schedule C or SE?

In 2015 my LLC had a $200 loss. My accountant at that time filed a Schedule C and a Short Schedule SE (I am not sure why he filed a SE). For the 2016 year my LLC has $0 income and there's no employment involved. I've seen conflicting reports if I need to file a C and/or SE. Money is a concern for me, so I would like to stay with the DeLuxe version.

 

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Level 5
May 31, 2019 10:03:40 PM

If you had zero income and zero expenses for your self-employment, you don't need to file a Schedule C this year. The Schedule SE is only to report self-employment tax on the "net profit" that is reported on the Schedule C.  Since you didn't have a profit, you don't need to file that form either.