Question

Business income

I closed my corporation during the year but after closing I made $800 on a small project. No K-1 form was issued. How do I report that income?

If you are required to file a tax return, you have to report ALL income, whatever the amount

You would report it as self employment income on Schedule C. You will also be able to deduct any expenses related to that income.

In TurboTax just go to:

1. Business

2. Business income and Expenses

3. Follow the prompts

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