starting november 2022 I stopped selling on ebay reselling goods as self employment. I started a regular wage paying job that gives me a w2. For 2023 taxes I have no 1099s for ebay sales or 0 sales. My self employment business still shows up in turbo tax. Do I delete the self employment business on turbo tax or do I still file schedule C but put the sales amount at 0? Thanks for the help
So if you stopped the business and had no sales or other income you may drop or delete the business in TurboTax . So you don't need to file a Schedule C. If you had any business expenses paid in 2023 related to your 2022 sales you may want to keep you Schedule C showing $0 sales and then the expenses from 2022 paid in 2023. Otherwise drop or delete the Schedule C in TurboTax. Hope this hepls
As long as you have no income or expenses to report in 2023 for the business that you stopped operating in 2022, then you can delete the Schedule C from your 2023 tax return.
The exception to this would be if you had Assets entered as part of the business on which you were claiming depreciation or had claimed a special depreciation deduction or Section 179 deduction. If that is the case, then you must dispose of those Assets through the Schedule C instead of simply deleting the form.