itonewbie
Level 15
04-11-2022
08:05 AM
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Try this. On that Sch C, on the Business Information tab, under the General Information section, on the line for "1=delete this year, 2=delete next year", enter 1. That should do the trick.
Here's what you should also take note of:
1) Depreciation: You may like to override the depreciation of any related assets since depreciation will still be computed in spite of Sch C being removed for the year. If the asset is retired, you should then enter a date instead.
2) Rollover: If you enter 1 to delete this year, the activity won't be rolled over. If you want the data to be rolled over, make sure you remove your entry for delete this year before the rollover. I know, it's a bummer. But that's how dumb smart the system is.
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Still an AllStar
Still an AllStar