Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted May 31, 2019 11:14:55 PM

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

0 1 468
1 Replies
Level 5
May 31, 2019 11:14:57 PM

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.).