If you have no self-employment income or expenses for 2018, then you do not have to file Schedule C.
I would ask you to do a quick assessment.
If the business had any of these transactions in 2018, you should file one last Schedule C to formally close the business for tax purposes.
If you have no self-employment income or expenses for 2018, then you do not have to file Schedule C.
I would ask you to do a quick assessment.
If the business had any of these transactions in 2018, you should file one last Schedule C to formally close the business for tax purposes.
Thank you for your answer! I had a *one-time contracting work* in 2017 for a couple months. All the work was concluded in 2017 and the only expenses I had in 2017 were for the mileage incurred on my personal car (hence the 1099-MISC and Schedule C in 2017). I did not do any similar work in 2018. Is it ok for me to delete the Schedule C in TurboTax? Thank you!
Absolutely! Feel free to delete the Sch. C. If there were any worksheets of forms feeding into the Sch. C, you will want to delete those first.
Wonderful! Thank you so very much for your help and wishing you a great day!!! 🙂
What if we are holding on to the business and assets, but nothing was done this year (no income or loss) due to other work that we are paying taxes on. Do I need to fill out another schedule C if there was no income or loss, and the business is still open? I listed it on our taxes, but it did not prompt a schedule c- I previously had deleted the self employed business part by mistake.