Are these the correct steps to end my Sole Proprietor business and move forward as a hobby for my 2025 return? Anything else I need to do? Thanks.
To remove Schedule C
- Login to your TurboTax online account
- Click Take me to my return or pick up where I left off
- Click Tax Tools (located in the left side bar), then Click Tools
- Click Delete A Form in the Tools Center pop up box
- Click Delete next to the Schedule C in the Review Forms List Screen (you may have to scroll down)
To add Hobby Income
- While logged into your account
- Type the words Hobby Income, loss in the search box (located in the upper right hand corner)
- Click the Jump to Hobby Income, loss link that appears in the search results
- Continue with the onscreen instructions to add the hobby income
