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Margee
New Member

In the past years I filed forms 8562, 6198 and a schedule C, do I still have to file these form on my 2016 taxes. Closed my Business end of 2008. What do they pertain to.

I believe this has to do with my business which I closed at the end of 2008 No longer self-employed, I'm retired.
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MiriamF
Intuit Alumni

In the past years I filed forms 8562, 6198 and a schedule C, do I still have to file these form on my 2016 taxes. Closed my Business end of 2008. What do they pertain to.

Did you mean form 8582, Passive Activity Loss Limitations?

If you sold your business to an unrelated party, you were allowed to deduct your passive activity losses (PAL) against the sale price of the business in the year of sale. If you don't have any passive activity losses, then you don't need to file this form. If you didn't sell the business, and you are no longer getting income from this business, then you no longer have anything to deduct the PAL against. Whatever the answer is, you don't need this form, unless you are still receiving income from your former company.

Form 6198, At-Risk Limitations, limits your losses to the amount you have invested in the company. If you are not getting income from your former business, then you don't need to file this form.

Regarding the Schedule C, you will need to file this form if you are getting cash payments from your former business or received a Form 1099-MISC with an entry in Box 7.

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MiriamF
Intuit Alumni

In the past years I filed forms 8562, 6198 and a schedule C, do I still have to file these form on my 2016 taxes. Closed my Business end of 2008. What do they pertain to.

Did you mean form 8582, Passive Activity Loss Limitations?

If you sold your business to an unrelated party, you were allowed to deduct your passive activity losses (PAL) against the sale price of the business in the year of sale. If you don't have any passive activity losses, then you don't need to file this form. If you didn't sell the business, and you are no longer getting income from this business, then you no longer have anything to deduct the PAL against. Whatever the answer is, you don't need this form, unless you are still receiving income from your former company.

Form 6198, At-Risk Limitations, limits your losses to the amount you have invested in the company. If you are not getting income from your former business, then you don't need to file this form.

Regarding the Schedule C, you will need to file this form if you are getting cash payments from your former business or received a Form 1099-MISC with an entry in Box 7.

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