Yes, you can go to a lower version of TurboTax if you no longer are claiming a Sch C business on your return.
Depending on your tax situation you may be good with TurboTax Deluxe version. One nice thing about the products, if you start in a lower version and need to go up, you can always upgrade witnin the program and do not lose your information. You cannot however go to lower version.
Take a look at detail I provided below to help you make your decision. .
https://ttlc.intuit.com/replies/4833853