The warning is to instill a sense of caution.
If you delete, you may not have access to depreciation schedules and other information in the current tax software.
Make sure that you have access to any needed information from the previous year's tax returns before removing the self-employment activity.
In TurboTax Online, you are able to remove the self-employment activity by:
- Down the left side of the screen, click on Tax Home.
- Click on the down arrow to the right of Review.
- Click on the blue band labeled Review.
- Down the left side of the screen, click on Federal.
- Down the left side of the screen, click on Wages & Income.
- Scroll down to Self-Employment and click on the down arrow to the right.
- Click to the right of Self-employment income and expenses.
- At the screen Your 2024 self-employed work summary, delete the self-employment activity by clicking on the trashcan to the right.
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