Question

I started an LLC business in 2016, but did not generate revenue. Can I submit my expenses as deductions?

Forum|Forum|7 years ago
June 1, 2019
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TurboTax Deluxe Online

Employee

Yes, Per the IRS "Use Schedule C (Form 1040) to report income or (loss) from a business you operated or a profession you practiced as a sole proprietor. An activity qualifies as a business if your primary purpose for engaging in the activity is for income or profit and you are involved in the activity with continuity and regularity. For example, a sporadic activity or a hobby does not qualify as a business"

Please click this IRS link: https://www.irs.gov/pub/irs-pdf/i1040sc.pdf

Therefore, if your business purpose is for income or profit, then you may report these expenses within Schedule C.