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Sole Proprietorship
I am almost wrapping up my sole proprietorship. It is (or was) a professional health services sole proprietorship. This year I have had no income but a few thousand (less than five thousand) in final expenses, I see a check box on turbo tax that says “last year of business for this business”.
What happens with CRA if or when I mark this checkbox?
Or what happens if I simply stop doing business and never tick this box?
February 26, 2024
5:46 PM
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Troubleshooting
When you tick the box it shows the CRA that this is/was your final year of the business.
Thank you for choosing TurboTax.
February 27, 2024
6:18 AM