Solved: My business closed in 2015 and there was no business activity in 2016. Do I need to file something anyway????????
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My business closed in 2015 and there was no business activity in 2016. Do I need to file something anyway????????

 
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Level 5

My business closed in 2015 and there was no business activity in 2016. Do I need to file something anyway????????

No, not if there is nothing to report and you filed a Schedule C.  However, if you filed as a Partnership (Form 1065) or S-Corp (Form 1120S), then you do have to file a Final tax return for the business to close it out.  (This is not required for a Schedule C business.).

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Level 5

My business closed in 2015 and there was no business activity in 2016. Do I need to file something anyway????????

No, not if there is nothing to report and you filed a Schedule C.  However, if you filed as a Partnership (Form 1065) or S-Corp (Form 1120S), then you do have to file a Final tax return for the business to close it out.  (This is not required for a Schedule C business.).

View solution in original post

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