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I retired and closed my business on 12/31/2016. I received some client payments and payed business taxes in 2017. Do I have to fill out a schedule C for this?

 
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DawnC0
Intuit Alumni

I retired and closed my business on 12/31/2016. I received some client payments and payed business taxes in 2017. Do I have to fill out a schedule C for this?

Yes, you would need to file a Schedule C for the income and expenses related to your self-employment.  I have attached links that explain all the steps necessary to officially ''close your business''.  

Closing a Business - TurboTax Blog

IRS - Closing Your Business



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1 Reply
DawnC0
Intuit Alumni

I retired and closed my business on 12/31/2016. I received some client payments and payed business taxes in 2017. Do I have to fill out a schedule C for this?

Yes, you would need to file a Schedule C for the income and expenses related to your self-employment.  I have attached links that explain all the steps necessary to officially ''close your business''.  

Closing a Business - TurboTax Blog

IRS - Closing Your Business



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