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February 19, 2025
Question

Do I keep self-employment income on my return even if I didn’t have any income and no expenses to report?

  • February 19, 2025
  • 1 reply
  • 0 views
The only reason I have it listed is that I didn’t officially leave the business (network marketing) until Spring of last year during the most current tax year. I made no income and didn’t have any expenses and turbo tax isn’t liking those answers.

    1 reply

    KrisD15
    February 19, 2025

    Yes, you would still have that business listed on your 2024 Tax Return (Schedule C) if the business was still active anytime in 2024. 

    For the business profile, select "I sold (or disposed of) my business in 2024" if you officially left in Spring 2024. 

    (Find that by going to 

    the Business tab

    Business Income and Expenses

    EDIT for that business

    Business Profile

    Scroll down and select EDIT next to Disposed of Business in Current Year

     

    You can still enter any final business expenses you had in 2024 even if you had no business income.

    If you had none, simply make the selection that it was disposed and be done with it. 

     

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