closing a business

• The extent of the required paperwork will depend on whether the business was run as an individual or with a group of employees, and if the business had assets.
• If your business had no employees and you ran it as an individual, the process of informing the IRS is relatively simple, but if there were assets involved, separate information might need to be reported.
• If your business has employees, your additional responsibilities will include finishing up payroll responsibilities, issuing final W-2 forms, and filing a final Form 941.

On your business profile page, there is a question about starting or stopping this work in the current year.   You wan to select that you stopped doing business.   Each asset you have listed will need to be closed out as well.  

Closing a Business - TurboTax

Closing a Business - IRS