You should edit the Business profile section and indicate that you disposed of the business in 2016. This will remove unnecessary forms for your return. To navigate back to the section:In your open return, select My AccountToolsTopic SearchType business (schedule c) in the box, then select GOSelect Edit, next to your business you no longer have on the page, Here's the business info we have so far. Then select update next to your Business Profile. Scroll the list on the page, Let's confirm your business info and edit to dispose of the business.See attachments.

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bmeddy8813

Level 2

Solved

I closed my business in May. I didn't buy or sell anything from Jan-May. So i have 0's for all my stuff... Will this throw up a red flag?

Forum|Forum|7 years ago
June 1, 2019
1 reply
15 views

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TurboTax Self Employed Online

Best answer by PaulaM

You should edit the Business profile section and indicate that you disposed of the business in 2016. This will remove unnecessary forms for your return. To navigate back to the section:

In your open return, select My Account
Tools
Topic Search
Type business (schedule c) in the box, then select GO

Select Edit, next to your business you no longer have on the page, Here's the business info we have so far. Then select update next to your Business Profile. Scroll the list on the page, Let's confirm your business info and edit to dispose of the business.

See attachments.

PaulaM

Answer

Alumni - Expert

You should edit the Business profile section and indicate that you disposed of the business in 2016. This will remove unnecessary forms for your return. To navigate back to the section:

In your open return, select My Account
Tools
Topic Search
Type business (schedule c) in the box, then select GO

See attachments.

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bmeddy8813Author

Level 2

Okay. I had already did that. I was just filling in the numbers part and wanted to may sure since I had 0's, everything would be okay because I gave majority of the goods that were left away.