- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
If you closed the business in (let's say) 2022, then all the tax consequences should have been handled on your 2022 return. That would include recapturing depreciation on any remaining assets that you sold and taking care of any insurance reimbursement (which might or might not be taxable, depending on the circumstances). There should be nothing further to report on your 2023 return.
‎February 4, 2024
9:17 AM
521 Views