ThomasM125
Expert Alumni

Business & farm

You may want to do some research to find out what the losses represent. It is possible they could have been deducted when you closed the business, such as unused depreciation on assets that became worthless, unsold inventory or passive losses. If so, you may be able to go back and file an amended return to claim the losses against prior year income.

 

If you determine that the losses are no longer deductible, you can try deleting the associated forms, which might be schedule C (business tax return), form 8582 (passive losses) or the asset entry forms for business assets.

 

Follow these instructions:

 

1. Choose the Tax Tools option on your left menu bar

2. Choose Tools

3. Choose the Delete a form option under Other Helpful links 

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