Please check the Schedule C's listed under the Income & Expenses Tab in the Self Employment Income & Expense Section.
Choose Edit/Add and be sure your old business is not listed. If it is and this business is no longer operating and had no depreciable assets, carryovers etc, you can choose the trash can and delete it.
After you have done this, if Form 8995 is still showing old information, please delete Form 8995 and any related worksheets, schedules and forms. Be sure you delete it please make sure that you record or make note of any information that might be lost when you do that.
To delete the Form 8995:
- Open or continue your return in TurboTax.
- In the left menu, select Tax Tools and then Tools.
- In the pop-up window Tool Center, choose Delete a form.
- Select Delete next to the Form 8995 as well as any other schedule/worksheet in the list and follow the instructions.
After deleting the form, be sure to go back and answer any applicable QBI questions to regenerate the QBI deduction.
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