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Hey there! If your business expenses exceeded your income, you would report a loss on your Schedule C. This loss can offset other income you might have (like wages from a job, for example), potentially reducing your overall taxable income.

However, whether you'll owe taxes or get a refund isn't just about your business income and expenses. It also depends on other factors like your total income from all sources, your filing status, whether you had any tax withheld from other income during the year, and any credits you might be eligible for.

Remember, even if your business had a loss, you still need to file a tax return if you meet the IRS filing requirements. It's also important to note that the IRS sometimes scrutinizes returns with business losses to ensure the expenses are legitimate and the business isn't a hobby. So, make sure to keep good records of your business expenses.