Do I have to report I stopped my realtor side job on 1/1/2019?

[wenbinwang]

I stopped my realtor side job on 1/1/2019. I have no income or expense. Turbotax keep asking me for updated information on this self employment income(Realtor income). I use a car for realtor side job that isn't my, and the car is owned by my father. I have no asset or liability from realtor side job.  I keep my realtor information in the Turbotax and just state $0 self employment income and $0 expense, and state I discontinue the self employment realtor business. did I do the right thing by saying I discontinue  the realtor business? I though I don't need to tell IRS I stop this side job since I have no asset and no liability, no income, and no expense. Is there anything else I need to do?

[AnnetteB6]

Since you had no assets being depreciated for your Schedule C business, it sounds as if you have done everything necessary to 'close' the business so that it will not be carried forward to your future tax returns.  

@wenbinwang

[wenbinwang]

Thank you for answer my question. Can you please also help me with this follow up question? I did use a light SUV part time for realtor side job even know I am not the owner of the SUV. My father is the owner of the SUV.  I did receive vehicle expense deduction in 2018 and 2017. Did I receive this vehicle expense deduction because I was depreciating the vehicle? I don’t think I was depreciating the vehicle since I don’t owe it, and I am just using it. 

[AnnetteB6]

If you did claim vehicle expenses for the car owned by your father, then you may need to specifically delete it from your Schedule C so that the information will not be carried forward.  

Go to the Schedule C, then the Vehicle Expense section.  From the Vehicle Summary page, click Delete or click the trash can icon beside the vehicle that was used for the business.  

@wenbinwang