If the taxpayer has closed or disposed of their business during the tax year, you can indicate this on the Income tab > C- Self-Employment Income screen of data entry. On this screen, there is a check box on the right side of the data entry screen that reads, Taxpayer disposed of business during 2015.
Checking this box does not have an impact on the current year Schedule C calculation, but it will prevent the Schedule C from updating to the next tax year when the client's return is updated within UltimateDR.
Comments
0 comments
Please sign in to leave a comment.