I retired and closed my business on 12/31/2016. I received some client payments and payed business taxes in 2017. Do I have to fill out a schedule C for this?

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1 Best answer

Intuit Alumni

Jun 4, 2019 1:33:25 PM

Yes, you would need to file a Schedule C for the income and expenses related to your self-employment. I have attached links that explain all the steps necessary to officially ''close your business''.

Closing a Business - TurboTax Blog

IRS - Closing Your Business

Intuit Alumni

Jun 4, 2019 1:33:25 PM

Yes, you would need to file a Schedule C for the income and expenses related to your self-employment. I have attached links that explain all the steps necessary to officially ''close your business''.

Closing a Business - TurboTax Blog

IRS - Closing Your Business

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I retired and closed my business on 12/31/2016. I received some client payments and payed business taxes in 2017. Do I have to fill out a schedule C for this?