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

Reporting Rental Income on Tax Return

Renting property comes with extra tax reporting. Learn what you need to know about reporting rental income on your tax return from the experts at H&R Block.

Are Your Social Security Benefits Taxable?

Are Social Security benefits considered taxable income? Learn more about Social Security taxability and how it relates to retirement income at H&R Block.

Tax & Retirement Questions – Answered!

Have questions about taxes and retirement? Answer common retirement tax questions about 401(k) accounts and rollovers with the H&R Block Tax Institute.

Cash in Lieu of Fractional Shares

Learn more about the definition of cash in lieu on your 1099-B and get tax answers at H&R Block.