How do i switch from self employed to w2 wage earner ?

cg2002 — Sat, 01 Jun 2019 02:30:52 GMT

i had a business in 2015 but was employed by someone else in 2016

Before you decide to remove anything or downgrade your Tu...

NicoleU — Sat, 01 Jun 2019 02:30:52 GMT

Before you decide to remove anything or downgrade your TurboTax version, make sure you did not operate your business as a Sole Proprietor or an independent contractor (Form 1099 Misc). Also, you did not have any assets that need to be disposed of and you did not have any depreciation costs that need to be recaptured. The depreciation recapture part means if you took a depreciation deduction or benefit.

Therefore, the IRS requires that this income be reported on a Schedule C as well. TurboTax Self-Employed is designed to report this type of income and capture any expenses or deductions related to your business or line of work.

If the above factors do not apply, you can downgrade using the Clear and Start Over feature but bear in mind that the different TurboTax "flavors" handle different tax situations and their associated forms. Please read the following important link:https://ttlc.intuit.com/replies/3288495

Here's the general procedure for downgrading your version:

topic How do i switch from self employed to w2 wage earner ? in Get your taxes done using TurboTax

How do i switch from self employed to w2 wage earner ?

Before you decide to remove anything or downgrade your Tu...