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October 2, 2024
Solved

Record expenses but no income

  • October 2, 2024
  • 1 reply
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I am a realtor. I have many expenses, but no income from the prior year. How do I record my expenses and 0 income to receive a return? 

Best answer by DoninGA

If you are not a W-2 employee of the real estate firm, then you are a sole proprietor/independent contractor that would report their income and expenses on a Schedule C.  You can enter your expenses without having any income on the Schedule C.

 

To complete a Schedule C using the TurboTax online editions you will need to upgrade to the Premium edition.

 

See this TurboTax support FAQ for Schedule C - https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/enter-schedule-c/L5Fz3j5us_US_en_US?uid=m1sbffve

1 reply

DoninGA
DoninGAAnswer
Employee
October 2, 2024

If you are not a W-2 employee of the real estate firm, then you are a sole proprietor/independent contractor that would report their income and expenses on a Schedule C.  You can enter your expenses without having any income on the Schedule C.

 

To complete a Schedule C using the TurboTax online editions you will need to upgrade to the Premium edition.

 

See this TurboTax support FAQ for Schedule C - https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/enter-schedule-c/L5Fz3j5us_US_en_US?uid=m1sbffve