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February 22, 2023
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Closed Sole Proprietorship Business

  • February 22, 2023
  • 1 reply
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In previous years I have filed Schedule C for my Sole Proprietorship photography business.  In 2022 I decided to close this business and have no income or expenses for this business in 2022.  Are there any forms I need to fill out to inform the IRS this business is closed and they won't be seeing any more Schedule C's for it?  Thank you!

Best answer by Anonymous_

See https://www.irs.gov/businesses/small-businesses-self-employed/closing-a-business

 

For a sole proprietorship without employees, there is not much you need to do other than ensure that you have converted any assets that were being depreciated to personal use (or report them as sold if you happened to sell them).

1 reply

Employee
February 22, 2023

See https://www.irs.gov/businesses/small-businesses-self-employed/closing-a-business

 

For a sole proprietorship without employees, there is not much you need to do other than ensure that you have converted any assets that were being depreciated to personal use (or report them as sold if you happened to sell them).