Solved
No business income can I claim expenses?
I'm starting a business and did not make any income in 2015. Can I claim expenses from my business?
Even if you didn't have any income if you started a business during 2015, you may claim expenses that incurred during the year. The expenses before you actually "opened" may be considered startup expenses; the expenses incurred after you opened are deductible.
So you are considered to be self-employed and have a business. You will need to complete a Schedule C. You can use TurboTax Online Home & Business version or TurboTax Desktop Deluxe version or above.
How to get started entering the information for your Schedule C business
In your TurboTax Home & Business edition:
- Click the Business tab, and Continue.
- On the How do you want to enter your business income? screen:
- Go through all areas sequentially by clicking Walk me through everything. under Guide me, or I'll choose what I work on under I'll explore on my own.
- Choose your topics by clicking Start/Update and follow the prompts.
You can also use the TurboTax search box by entering Schedule C and clicking on the Jump to Schedule C link.
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