Drake Tax - Schedule C: Taxpayer Disposed of Business

How to indicate a sole proprietor who has disposed of their business during the tax year

If the taxpayer has closed or disposed of their business during the tax year, you can indicate this on the Income tab > C screen of data entry. On this screen, select theTaxpayer disposed of business during 2024 check box.

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 Drake Tax.