Taxes Q & A- If you have run a small business

If you have run a small business in the past, but this year there is no income or expenses, is it necessary to file a Schedule C?

If your sole proprietorship business is inactive during the full year, it is not necessary to file a Form 1040, Schedule C (PDF), Profit or Loss from Business, for that year.

References:

Publication 334, Tax Guide for Small Business

Form 1040, Schedule C (PDF), Profit or Loss from Business

Source: www.irs.gov

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