Schedule C or no?

[ytd]

I have owned a product photography business (sole proprietorship) for about 30 years. I moved about 10 years ago and ever since my profits have been going down. Last year I finally got a full time job, and didn't earn one cent from my business, didn't advertise, etc.

I am about to quit my job and start up again with my business so I do not want to indicate that I closed the business on my taxes. Yet I didn't really operate the business last year.

Here is my question: how do I complete my taxes when one of the first questions on turbo tax is do I have a business, or did I close down a business, in 2013. I can't really do a schedule C (which would indicate that I had a business in 2013) with no income or expenses for the business. Yet, I am about to start putting energy into it again so I am not ready to shut it down so I don't want to say as much on my taxes. Not sure what to do. Any suggestions :confused:

[Freelancier]

There's no penalty for having a business with 0's on the tax return. If you didn't shut it down, then tell turbo tax you did have a business and fill in the answers with all zeros (although I'm having a hard time believing that you didn't have depreciation of assets to record).

[ytd]

There's no penalty for having a business with 0's on the tax return. If you didn't shut it down, then tell turbo tax you did have a business and fill in the answers with all zeros (although I'm having a hard time believing that you didn't have depreciation of assets to record).

You raise a good point. All of my camera equipment goes downhill (in terms of value) pretty quickly. The film cameras, of course, took a nose dive. I also do have a few expenses for my website that is still up. So, I guess I have some expenses - but no income. :eek:

So, I guess I fill out the schedule C with zeros in the income, and a few expenses and leave it at that. Hopefully 2014 will be much better.