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Get your taxes done using TurboTax
Yes, since you are no longer in business you can report the income as Miscellaneous Income using these steps:
- Click on Federal > Wages & Income
- In the Less Common Income section , click on the Start/Update box next to Miscellaneous Income, 1099-A, 1099-C.
- On the Miscellaneous Income screen, click on the Start/Revisit box next to Other reportable income.
- On the Any Other Taxable Income? screen, click the Yes box.
- Enter the income on the Other Taxable Income screen, along with a description. Click Continue.
- You will be brought to the Other Miscellaneous Income Summary. If you have no more miscellaneous income to report, click Done.
[Edited | 4/8/2020 | 11:37am PDT]
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‎June 5, 2019
3:11 PM