Tax Year Prior to 2020: My buisness did not make any money this year and i do not have a k-1 form what can I do?

[melissamcgee3]

we had a home business last year that made some money but this year we did not make anything do I still need to add it to my taxes

[KarenL2]

Yes, if the business is still active, the business should file a tax return and issue K-1 forms.  Even if no income was earned, there are likely expenses.  Based on what you said, I'm assuming you have an S-Corp (Form 1120S) or Partnership (Form 1165).  In either case, a return must be filed for that business and issue the K-1s.  If you ended the business in 2016, then you still must file a "final" return for that Partnership or S-Corp.

Any losses for the year that are reported from the K-1, will be netted with your other income on your Individual Form 1040.

If you need it, here is the link to the TurboTax Business Software