I have not reported any income from self-employment in 2019. I closed my business as of 2018.
For some reason, in line 13700, a negative amount is showing. I have gone back through the file, and I have not inputted any type of self-employment. It may be pulling data from my 2018 return.
Please advise how I can remove the amount reported in line 13700 for this year's return.
You may have closed your business but forgot to do a deemed disposition on your Capital Assets. Usually, everytime you carry a business return forward before you input "anything" it will show as a loss. You should have closed out and "disposed" of your assets (vehicle, equipment, furniture, etc) at the same as the UCC unless of course you actually sold them. So go in and change any UCC amounts to "zero". Make sure you do not answer "No" to the final year of business. This will eliminate line 13700 negative amounts.
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