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March 7, 2021
Question

Turbo Tax thinks I sold the business, I did not, i can't get past the questions.

  • March 7, 2021
  • 1 reply
  • 0 views
you did not answer the question

1 reply

March 10, 2021

The sale of a business is generally reported as a sale of a capital asset.

 

What version of TurboTax are you using?  Are you referring to your individual 1040 tax return where something is not reporting correctly?  Please clarify.

 

This TurboTax help refers to TurboTax Online Self-Employed.  Is this what you are referring to?

 

At the beginning of the business section one of the screens has a selection on it for "I sold or otherwise disposed of this business in [tax year]. You must select that option and press on "as if" you still own the business.

 

Or are you using TurboTax Desktop Business

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