JotikaT2
Employee Tax Expert

Get your taxes done using TurboTax

It depends.

 

If the business was operating in 2019 as a business, it would technically still need to be reported on Schedule C as a self-employed business on your 2020 tax return.  

 

You would also need to follow the steps provided by AnnetteB6 above to ensure the activity is reported as ending in 2020.

 

 

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