My contractor business ended in Jan. 2016. I did not sell it. It was no longer productive and I dissolved it. How do I show that on my return?

[IsabellaG]

It's very simple to close a business when you are a sole proprietor. In TurboTax, you'll be asked if you sold or disposed of the business (see the screenshot below). Answer yes. A drop-down will appear asking if you sold the business, and you will say no.If you had any business activity during January, enter the income and expenses. If not, you won't be filing a Schedule C at all.

If you sold assets that were used in the business, you will have to report the sales as a Sale of Business Property in the year of the sale. See the screenshot.

Also, see this link for more information: https://turbotax.intuit.com/tax-tools/tax-tips/Small-Business-Taxes/Closing-a-Business/INF12028.html