Do I need to list LLC on tax return if I didn't make $ in 2018?

[Account Closed]

Hi all,

I started a LLC in 2018 and didn't make any money on it.

Do I need to list that on my tax returns?

Thanks,

Ben

[Basit Siddiqi]

@Account Closed

Expenses without income is an overall tax-loss. You can potentially utilize the loss to lower your overall taxable income and pay less taxes.

The question is are you capable of reporting the losses? if you started a business last year, you can. Having income is not a requirement to starting/having a business.