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Jeremiah11
Returning Member

I can't "This business no longer exists."

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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2 Replies
JotikaT2
Employee Tax Expert

I can't "This business no longer exists."

It depends.

 

Did you have any activity at all in 2019?

 

If not, you can try the following instead.

  1. Go into the Federal section of the program. 
  2. Select Income & Expenses 
  3. Select Self-employment income and expenses 
  4. When you see the name of your business, select the trash can icon to the right of Edit.  This should delete the business and remove that error message.

Schedule C deletion

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Jeremiah11
Returning Member

I can't "This business no longer exists."

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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