Question

Should I file Schedule C if I did not make any money last year 2021 August 7th?

Forum|Forum|4 years ago
February 27, 2022
1 reply
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I'm full-time employed and being audited by the i r s

TurboTax Free Edition Online

Yes, you will need to file Schedule C Profit or Loss from Business if you received any income from your business activity. The fact that you did not make any money, from your business activity, does not remove the requirement to file Schedule C. Also, being employed full-time does not eliminate you from having to file Schedule C.

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S

sirlawrence2Author

😬so no. I did not make a dime

LeonardS

Yes, you do not have to file a Schedule C if you had no income. However, you may want to file as a final Schedule C if you do not plan on continuing your business. The only entry you would make would be to indicate that you ended the business in 2021 by checking the box on the line I stopped -your business name- in 2021 on the page Tell us about how long you've worked in (your business name).