Haven’t been on here in a while. Last year was my first year doing vending at some fairs and festivals.
Unfortunately, it was a loss. ( which I expected anyway). I just about completed the taxes online with TurboTax. The business is a sole proprietership, LLC and I used the “Home & Business” version.
What I don’t understand is I am not getting any kind of refund according to TurboTax. I have thousands in expenses and supplies and 0 profit.
Maybe I’m just not understanding how it works. But I figured because I have so much into it and absolutely no profit I would get some sort of refund?
Maybe I’m doing something wrong? I don’t want to submit the taxes yet until I’m sure I didn’t miss anything.