K-1 G325A

[Biscuit123 0]

Hello, I really need help please. I am filing out the G-325 K-1 Fiance Visa. I am stuck on the Employment section.

I have been unemployed for a few months now but have a registered 'dormant' on the side small business. I have not made any income since the beginning of the year (just one gig). I was then fully employed under the company I worked for while I had the gig. Since then, I have not been marketing it to any extent to gain clients nor investing in it to make a living (no money to invest), hence I am unemployed (receiving my Unemployment Benefits).

I filed my 2011 tax in early 2012 for the small business. I plan on doing it again for my 2012 tax in 2013 due to the small gig.

Question:

1. Do I record/list the small business even though I generated no income and collecting unemployment? OR

2. Do I record/list from the time I became unemployed altogether --keeping in my mind that I will be filing the gig in my tax return?

Thank you.

[Gary and Alla 3,696]

Hello, I really need help please. I am filing out the G-325 K-1 Fiance Visa. I am stuck on the Employment section.

I have been unemployed for a few months now but have a registered 'dormant' on the side small business. I have not made any income since the beginning of the year (just one gig). I was then fully employed under the company I worked for while I had the gig. Since then, I have not been marketing it to any extent to gain clients nor investing in it to make a living (no money to invest), hence I am unemployed (receiving my Unemployment Benefits).

I filed my 2011 tax in early 2012 for the small business. I plan on doing it again for my 2012 tax in 2013 due to the small gig.

Question:

1. Do I record/list the small business even though I generated no income and collecting unemployment? OR

2. Do I record/list from the time I became unemployed altogether --keeping in my mind that I will be filing the gig in my tax return?

Thank you.

employment is not the same as working and has nothing at all to do with making money. If the business is dormant and not being used at all (doesn't matter if it makes money or not, is it being used actively even to LOOK for clients?)in the LAST FIVE YEARS then you are unemployed and you do not need to mention the business in any way. If you attempted to make a go of this business at any time in the last five years then you need to list it as self employment. Remember they ask about the last five years, not just right now.

If you are attempting to make money with the business currently, marketing its goods or services, even if you have no clients or business yet, then you are self employed. and you do nopt need to mention your unemployment.

Edited November 28, 2012 by Gary and Alla