Vanessa A
Expert Alumni

Retirement tax questions

Yes, you say you are mostly retired, I am assuming this means you still have a little bit of income from your private practice.  If this is the case, then you will need to continue to file a Schedule C which you would need to use TurboTax Home and Business to file. 

 

As long as you are filing taxes and have any self-employment income you will need to include the Schedule C on your return to report any and all income and expenses from your practice on your return. 

 

If you are only filing taxes for your private practice and you do not have other income, then any year you earn more than $400, you would still need to file a Schedule C with your return.

 

If you have a practice, you likely have assets.  If you have assets, if you do completely close you will need to file a few extra forms, in addition to your Schedule C and any employee tax forms, to report the disposal or sale of these assets. 

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