I have a business that had no income in 2019, and was closed. I want to indicate that it is, in fact, closed so I don't need to address it in future tax returns. When I go into edit of "Business Summary", I checkmark the box for "This business no longer exists.". But it will not stay checkmarked. As soon as I save that information and leave that screen, it becomes un-checked. When I go back into that edit window, it is un-checked.
When I do a final scan of my state (PA) taxes, it wants information for Schedule C.
How do I show that this business is closed with no income? How do I make that blessed checkmark stay in place??? GRRRRR!
Many thanks!
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It depends.
Did you have any activity at all in 2019?
If not, you can try the following instead.
I had no 2019 income from the business.
Quote: "This should delete the business and remove that error message." I didn't get an error message. I simply wanted to check the box for "This business no longer exists." But the checkmark won't stay in place. It just vanishes.
I "thought" I had to declare the business as closed on the tax return.
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