If the balance of $914.49 in the business account when business is closed is transferred to personal account where would I record it?

[VictoriaD75]

Was your business a sole proprietorship? If so, this is just a transfer of equity and assets. This means it is a balance sheet transaction that is not reported on the Schedule C and cannot be considered a business expense. The same would hold true if this were a single-member owned LLC. Different types of business entities may require a different approach.

@coastalstriping