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I did not operate my sole proprietership in 2016 and do not plan to resume in the future. Do I simply delete the type of business from the income page when I get to it?

 
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1 Best answer

Accepted Solutions
Patrice
New Member

I did not operate my sole proprietership in 2016 and do not plan to resume in the future. Do I simply delete the type of business from the income page when I get to it?

Option 1

Don't delete your business if it closed sometime in 2016. Instead, report the business and make sure you select I sold (or disposed of) my business in 2016 on the Tell us about your business screen.

Otherwise, follow these instructions to delete a business that transferred over from your 2014 return but is no longer owned by you as of January 1, 2016.

Instructions
  1. With your return open, search for this exact phrase: business (schedule c) (include the parentheses) and then click the "Jump to" link in the search results.
  2. Answer Yes when asked if you had (or want to work on) business income and expenses for 2015.
    • That's right – you'll need to answer Yes, even though it doesn't make sense.
    • If you're being forced to upgrade to Home & Business, contact us for further assistance.
  3. When you get to the Business info or Business Summary screen, click Delete next to the defunct business.
  4. Answer Yes to confirm the removal of all business-related forms.

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5 Replies
Patrice
New Member

I did not operate my sole proprietership in 2016 and do not plan to resume in the future. Do I simply delete the type of business from the income page when I get to it?

Option 1

Don't delete your business if it closed sometime in 2016. Instead, report the business and make sure you select I sold (or disposed of) my business in 2016 on the Tell us about your business screen.

Otherwise, follow these instructions to delete a business that transferred over from your 2014 return but is no longer owned by you as of January 1, 2016.

Instructions
  1. With your return open, search for this exact phrase: business (schedule c) (include the parentheses) and then click the "Jump to" link in the search results.
  2. Answer Yes when asked if you had (or want to work on) business income and expenses for 2015.
    • That's right – you'll need to answer Yes, even though it doesn't make sense.
    • If you're being forced to upgrade to Home & Business, contact us for further assistance.
  3. When you get to the Business info or Business Summary screen, click Delete next to the defunct business.
  4. Answer Yes to confirm the removal of all business-related forms.

I did not operate my sole proprietership in 2016 and do not plan to resume in the future. Do I simply delete the type of business from the income page when I get to it?

When I go through the step-by-step I am not being asked "if I sold or disposed of my business"

I did not operate my sole proprietership in 2016 and do not plan to resume in the future. Do I simply delete the type of business from the income page when I get to it?

Also your instructions seem contradictory...  I see this is a cut-and-paste from previous year's info with years changed, but it's very confusing.  It says don't delete if I closed in 2015 make sure I report I disposed of it in 2016.  Then immediately below you give instructions to delete if I did not operate as of January 1, 2016...  My last day of operation was 12/31/15.  I had no income or expenses and no assets depreciating.  Which option is it?
Patrice
New Member

I did not operate my sole proprietership in 2016 and do not plan to resume in the future. Do I simply delete the type of business from the income page when I get to it?

Since you don't see "if I sold or disposed of my business" then you should use Option 2 to delete the Schedule C and all the forms associated with the business.

I did not operate my sole proprietership in 2016 and do not plan to resume in the future. Do I simply delete the type of business from the income page when I get to it?

Ok that seemed to make sense to me, and I see the update above.  I didn't believe the business needed to be carried over since no Schedule C was necessary (as 2015 was the final required Schedule C year), but wanted to clarify that no business information needed to be declared on my 2016 return.  Thank you for your help.
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