topic I had a home office last year and went out of business. Turbotax didn't ask me if I disposed of the business. How can I do that? in Deductions & credits

I had a home office last year and went out of business. Turbotax didn't ask me if I disposed of the business. How can I do that?

samtheman0052 — Mon, 03 Jun 2019 17:37:13 GMT

Yes, you can report that you disposed of your business un...

PatriciaV — Mon, 03 Jun 2019 17:37:14 GMT

Yes, you can report that you disposed of your business under the Business Profile link.

Follow the prompts until you see "Tell Us More About Your Business" Check the box for "I sold or otherwise disposed of this business during 20XX." A drop-down will open with an additional question. (See screenshot below - click to enlarge.)

As you proceed through the Business interview, TurboTax will help you report the disposal of your business assets, including your Home Office. Also look for the Home Office profile info where you can report the date you stopped using your home for your business.

Note that the easiest way to find any section of TurboTax is to open your return and use the Find box at the top right side of the TurboTax header. Type in the topic you need, hit Enter, and click the "jump to" link to go directly to beginning of that topic.

Re: Yes, you can report that you disposed of your business un...

irs say business is hobby — Thu, 01 Apr 2021 17:47:11 GMT

CAN YOU PLEASE HELP I AM NEW TO THE PROCESS AND CAN'T SEEM TO FIGURE OUT HOW TO POST ASIDE FROM PIGGY BACKING OFF OF SOMEONE ELSE? SORRY, I LIKE YOUR RESPONSES AND THOSE FROM CHAMP. ANYWAY, MY QUESTION IS

IF I SAID I DISPOSED OF MY NON-RENTAL BUSINESS IN 2018 CAN I AGAIN INDICATED YES DISPOSED OF BUSINESS IN 2020 SO THAT I CAN CONTINUE TO INCLUDE CARRYOVER LOSSES FROM PREVIOUS YEARS?
2NDLY AS I HAVE HAD LOSSES FOR MORE THAN 7 YEARS IN 2015 THE IRS SAID I WAS A HOBBY SO DOES THAT MEAN I WAS STILL A HOBBY IN 2018 AND THE QUESTION REGARDING DISPOSAL OF BUSINESS IS IRRELEVANT?
THANK YOU SO VERY MUCH FOR ANSWERING