topic End of Service Contract in Business & farm

End of Service Contract

koegtt66 — Thu, 26 Mar 2020 20:03:41 GMT

Filing jointly. My wife had a service contract in place for the 2017 and 2018 tax season.

It was ended in 2018. Using TurboTax for 2019 and all the references are there for the business items and schedule C info. I have $0 for all that but the review picks up on it as all missing information.

How can I remove all references to it?

Thanks in advance!

Re: End of Service Contract

AlanT222 — Thu, 26 Mar 2020 20:24:32 GMT

Follow these instructions to delete a business that transferred over from your 2018 return but is no longer owned by you as of January 1, 2019.

Instructions

With your return open, search for business (schedule c). Be sure to include the parentheses.
Select the Jump to link in the search results.
On the Your 2019 self-employed work summary screen, select the trash can icon next to the defunct business.
Answer Yes, delete this info to confirm the removal of all business-related forms.

Re: End of Service Contract

Critter — Thu, 26 Mar 2020 20:31:24 GMT

Since you did not mark the Sch C closed in 2018 then you have to close it as of 1/1/2019 to get rid of what was transferred in. Follow the instructions in the other answer.