If I closed a business and have no business expenses or income for the year, can I use TurboTax Deluxe or do I still need purchase the Home and Business software?

[ladyem269]

You should be able to delete it. When you are asked about the situations to be addressed, it will bring up the business. You should be able to Click "NO" and Turbo Tax should ask you if you wish to delete it. Your only problem is if there were payroll involved, then you would have to go with the move expensive version. I was able to close my husband's business & mine that way, a few years ago.

[Vanessa A]

It depends on what type of business you had and if you did your final return. In general, if you just had a small business by yourself, you would not need necessarily need to report anything on your return for your federal return.  Although, if you had assets, you may need to still report the disposition of the assets by filing form 4797 or if you had employees, you will still need to do their final W-2 paperwork.

If you had a partnership, you will need to file a final 1065 and report the disposition of assets. 

  State laws may vary.