How do I switch filing status from business to personal as business closed in June 2019

Forum|Forum|5 years ago
February 1, 2021
1 reply
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DO i need to start from scratch or will info from business transfer to personal tax return

TurboTax Online

It depends, did you close the business on the 2019 tax return? If you business was reported on a Schedule C there is an option in Business Income and Expenses to close the business

If you did report that the business was closed in 2019, all of your other information will transfer and you will not need to transfer any information to your return.

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