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from self-employed to retired

Forum|Forum|2 years ago
October 25, 2023
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I have been an independent contractor for years and have not had any work in that capacity in 2023. I am living on my retirement annuities. How should I file? I am single.

Ask the Experts - Extension - Sept 2023

Best answer by DoninGA

If you have no self-employment income or expenses for tax year 2023 then you do not need to file a Schedule C for your self-employment. You only need to file as Single and report your retirement annuity income that is reported to you a Form 1099-R on the federal tax return.

DoninGAAnswer

Employee

If you have no self-employment income or expenses for tax year 2023 then you do not need to file a Schedule C for your self-employment. You only need to file as Single and report your retirement annuity income that is reported to you a Form 1099-R on the federal tax return.

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obladeedaAuthor

I will. Thank you!

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obladeedaAuthor

Also -- I am 58. If I have self-employment expenses and health care insurance through the marketplace but no work, should I file as retired? Can I deduct business expenses and health insurance premiums despite no income other than the annuities? Thank you.