I have a question about how to file business taxes with no income — Is filing business taxes with no income necessary?
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 Resources
If a stay-at-home mom earned a salary, what would it be? Learn more about how much mom is worth at H&R Block.
Have you recently earned Bitcoin income from rising stock value? Explore the rules surrounding cryptocurrency-sourced capital gains and losses with H&R Block.
What is a closing disclosure? When you buy a house, you will receive a closing disclosure that can benefit you at tax time. Learn more at H&R Block.
Uber and Lyft drivers must file self-employment income taxes. Learn more with the tax experts at H&R Block.
