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No income in my business, do I need to file a tax return?

November 8, 2010
Written by: steve

So you made no income for a given tax year, is there a filing requirement, very simple answer:
Question: If you have run a small business in the past, but this year there is no income or expenses, is it necessary to file a Schedule C?
Answer: If your sole proprietorship business is inactive during the full year, it is not necessary to file a Form 1040, Schedule C (PDF), Profit or Loss from Business, for that year.
Simple question, simple answer!!!

Filed Under: IRS Tax Advice
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