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How do I change incorrect ownership on activity summary smart worksheet carried over from previous year?

My husband died last year.  The worksheet shows that my business is owned by "spouse", which is what I was when previous returns were under his SSN. How do I change this?

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1 Best answer

Accepted Solutions
PatriciaV
Employee Tax Expert

How do I change incorrect ownership on activity summary smart worksheet carried over from previous year?

Yes, you can change the business ownership for Schedule C using Forms Mode in TurboTax for Desktop (all versions).

Go to Forms and open Schedule C for the business you need to change. At the top of the form, look for an X on the right side of the statements regarding "...business was operated by..." (see screenshot below - click to enlarge)

Any entries in blue can be changed on a form. Click the box beside the statement for Taxpayer, if that is how you wish to report this business activity.

If you scroll down to the Activity Summary Smartsheet (near the bottom of Schedule C), your changes should appear on this worksheet as well.

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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1 Reply
PatriciaV
Employee Tax Expert

How do I change incorrect ownership on activity summary smart worksheet carried over from previous year?

Yes, you can change the business ownership for Schedule C using Forms Mode in TurboTax for Desktop (all versions).

Go to Forms and open Schedule C for the business you need to change. At the top of the form, look for an X on the right side of the statements regarding "...business was operated by..." (see screenshot below - click to enlarge)

Any entries in blue can be changed on a form. Click the box beside the statement for Taxpayer, if that is how you wish to report this business activity.

If you scroll down to the Activity Summary Smartsheet (near the bottom of Schedule C), your changes should appear on this worksheet as well.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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