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sgernes
New Member

Can I get rid of Schedule C and accompanying forms if I no longer have this business and don't care about the carried-over $25 depreciation?

I want to avoid an audit. Turbotax says the $25 carried-over depreciation may trigger it, and I had no  Schedule C income.

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1 Best answer

Accepted Solutions
EricG1
New Member

Can I get rid of Schedule C and accompanying forms if I no longer have this business and don't care about the carried-over $25 depreciation?

If you are certain that you don’t need the Schedule C, SE, 1099-Misc or other supporting worksheets, you can delete it.

Note: Be careful! Once you delete, it is gone for good. You will have to re-enter data if you delete by mistake.

  • Select My Account
  • Tools
  • Delete a Form
  • Scroll list to locate the form and delete.

View solution in original post

4 Replies
EricG1
New Member

Can I get rid of Schedule C and accompanying forms if I no longer have this business and don't care about the carried-over $25 depreciation?

If you are certain that you don’t need the Schedule C, SE, 1099-Misc or other supporting worksheets, you can delete it.

Note: Be careful! Once you delete, it is gone for good. You will have to re-enter data if you delete by mistake.

  • Select My Account
  • Tools
  • Delete a Form
  • Scroll list to locate the form and delete.

Kat
Level 15
Level 15

Can I get rid of Schedule C and accompanying forms if I no longer have this business and don't care about the carried-over $25 depreciation?

Let me add a little more info here:

If you were depreciating assets in your business, you must first officially "dispose" of your business.  See the information below to do that.  

https://ttlc.intuit.com/replies/3300011

*** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***
EricG1
New Member

Can I get rid of Schedule C and accompanying forms if I no longer have this business and don't care about the carried-over $25 depreciation?

That's a great addition.
Kat
Level 15
Level 15

Can I get rid of Schedule C and accompanying forms if I no longer have this business and don't care about the carried-over $25 depreciation?

Thanks, EricG!  That's so kind of you.
*** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***
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