Again, thank you so much for your help. I hope I'm not over staying my welcome, but I still need a little clarification.
I've gone all the way through the TurboTax process, and didn't see anywhere where I could indicate I was closing the business. I'm sure this is just an oversight on my part, but could you point me to where I would make that entry?
What I did see was a question, posed by TurboTax: "Do you have any Loss Carry Forwards?" I was surprised by the question. I definitely have them, both for the business (Schedule C) and for previous investing activity (Schedule D). I expected TurboTax would pick these up from last year's return, rather than asking me. Is there someplace I should look to see how TurboTax has or hasn't stored and applied my loss carry forwards for Schedules C and D?
Finally, can my losses, both for the business and for investment activity, be carried backwards? If my Loss Carry Forwards can only be deductions against future taxable income, I may not recover the losses anytime soon, if at all. I'm now retired, with only social security and a small IRA for income. I don't actually reach the thresh hold to owe any taxes.
Again, thank you so much for your help. I want to get this all correct, and you're such a great resource to help me. I appreciate you!
