Question

I have a question about how to file business taxes with no income — Is filing business taxes with no income necessary?

Answer

Regarding how to file business taxes with no income, you shouldn’t file if:

  • You weren’t actively engaged in a trade or business.
  • You were preparing to begin your business.

You can either deduct or amortize start-up expenses once your business begins rather than filing business taxes with no income.

If you were actively engaged in your trade or business but didn’t receive income, then you should file and claim your expenses. Ex: You’re paid upon completion of your work.

You should still file, even if you haven’t received income yet. You can show a loss on Schedule C when filing taxes with no income to offset other income.

Related Topics

Related Resources

Bitcoin Income: Exploring Capital Gains & Stock Value

Have you recently earned Bitcoin income from rising stock value? Explore the rules surrounding cryptocurrency-sourced capital gains and losses with H&R Block.

Teen Summer Jobs | Are You Exempt From Federal Withholding?

If you're working a summer job, how can you tell if you're exempt from federal withholding? Learn more at H&R Block.

Form 709 – What Is It? When Should It Be Filed?

Form 709 is the IRS tax form that’s required in certain gift giving situations. Let the experts at H&R Block help you determine when Form 709 should be filed.

Taxes in the Gig Economy

The gig economy and taxes go hand-in-hand. If gig work is your primary form of income, review these important tax tips from our H&R Block tax professionals.