thatlostboy
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Thanks. So within turbotax online, do i report closing down my business as "Sale of Business Property" with a price of zero and cost basis of my purchase price?...
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So to confirm: it's the same situation as the reference posting where she does not need to 1099-Misc the buyer?
Activity Feed for thatlostboy
- Posted Re: When shutting down the business we purchased (due to pandemic and declining sales), can we de... on Get your taxes done using TurboTax. May 16, 2021 8:52 PM
- Posted When shutting down the business we purchased (due to pandemic and declining sales), can we deduct the original purchase price? on Get your taxes done using TurboTax. May 16, 2021 12:48 AM
- Posted Can I disable all QBI deductions? on Get your taxes done using TurboTax. October 12, 2020 6:25 PM
- Posted So to confirm: it's the same situation as the reference p... on Get your taxes done using TurboTax. June 4, 2019 3:05 PM
- Posted She is rebating 50% of her commission (referral payment) to the buyer through escrow. Does she still needs to 1099 the buyer? on Get your taxes done using TurboTax. June 4, 2019 3:05 PM
- Posted Can my solo 401k contribution exceed my self employment income? For example, if my net self-employment income is $15,000. Can i contribute $18500? on Retirement tax questions. June 4, 2019 2:27 PM