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Schedule C & Schedule SE

Question: I have run a small business in the past but this year I had no income or expenses from the business. Is it necessary that I file a Schedule C?

Answer:

If your sole proprietorship business has no profit or loss during the full year, it is not necessary to file a Schedule C (Form 1040) (.pdf), Profit or Loss from Business, for that year.

If your business is inactive, but you receive payments such as insurance that relate to the business, you must report those payments on a Schedule C or Schedule C-EZ (Form 1040) (.pdf), Net Profit From Business.

Additional Information:


Category: Small Business, Self-Employed, Other Business
Subcategory: Schedule C & Schedule SE

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The OMB number for this study is 1545-1432.
If you have any comments regarding this study, please write to:
IRS, Tax Products Coordinating Committee
SE:W:CAR:MP:T:T:SP
1111 Constitution Avenue NW
Washington, DC 20224