I used Turbo Tax w/Schedule C. Do it have special form to entry for self employed business closing in 2017 Tax Return? Do the closing need any special attachment form?

dhsin · ‎June 3, 2019

Am I right to put closing inventory amount in Form 4797 , Part II, Line 10 as inventory to personal use sale "Inventory disposed to personal use at closing business"?

Thank you.

MichaelL1 · ‎June 3, 2019

No there are no special forms. If you sold some of the assets of the business they will need to be entered as a sale.

Next year, when you start TurboTax you can elect in the beginning that you want to start with a lower version like Deluxe as the Self-Employed version will no longer be needed.

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MichaelL1 · ‎June 3, 2019

No there are no special forms. If you sold some of the assets of the business they will need to be entered as a sale.

Next year, when you start TurboTax you can elect in the beginning that you want to start with a lower version like Deluxe as the Self-Employed version will no longer be needed.

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I used Turbo Tax w/Schedule C. Do it have special form to entry for self employed business closing in 2017 Tax Return? Do the closing need any special attachment form?

I used Turbo Tax w/Schedule C. Do it have special form to entry for self employed business closing in 2017 Tax Return? Do the closing need any special attachment form?

I used Turbo Tax w/Schedule C. Do it have special form to entry for self employed business closing in 2017 Tax Return? Do the closing need any special attachment form?