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I went into business for myself. My product was not launched in 2018 but this year. In 2018, I started to buy materials, packaging, logo, etc. Since there is no income but expenses. Should and can I c

 
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I went into business for myself. My product was not launched in 2018 but this year. In 2018, I started to buy materials, packaging, logo, etc. Since there is no income but expenses. Should and can I c

If you started your business in 2018 but had no gross income, you don’t file a schedule C.  You will report your startup expenses next year, on your first tax return with business income.  The startup expenses are either expenses in 2019, or amortized over 15 years, depending on the dollar amount and nature of the expense.  Make sure you save your records.  

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I went into business for myself. My product was not launched in 2018 but this year. In 2018, I started to buy materials, packaging, logo, etc. Since there is no income but expenses. Should and can I c

If you started your business in 2018 but had no gross income, you don’t file a schedule C.  You will report your startup expenses next year, on your first tax return with business income.  The startup expenses are either expenses in 2019, or amortized over 15 years, depending on the dollar amount and nature of the expense.  Make sure you save your records.  

I went into business for myself. My product was not launched in 2018 but this year. In 2018, I started to buy materials, packaging, logo, etc. Since there is no income but expenses. Should and can I c

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