Victor Roberts wrote:
- quote -

It might be a little more complicated than that, I think:
If Rod took any depreciation or 179 expensing in 2005, he
needs to either continue depreciating (if he intends to
resume consulting in the next few years) or pay for
recapture of the expensing or accelerated depreciation, no?

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Rod" <Rod[at]NO.SPAM> wrote:

- quote -

Questions related to specific tax software should be posted
in forums related to that product. However, I believe I can
provide some general advice that may help you resolve this.

For Tax Year 2005 TurboTax probably completed a Schedule C
for your consulting income. (You should review your 2005
tax return.) If the form that TurboTax is now asking about
is a Schedule C, and if you did not have any self-employment
income for Tax Year 2006 you can delete the empty Schedule
for Tax Year 2006.

--
Vic Roberts
Replace xxx with vdr in e-mail address.

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I use TurboTax to do my income taxes. In 2005 I did some
consulting business on the side, to earn some extra money.
It was only about $1000, but I had to report it. So, I
entered it as a business (I guess, I honestly cannot
remember).

The thing is I don't really have a business, so it might not
have been a business. I entered it as consulting.

So, I am now using TurboTax 2006 Deluxe to do my 2006 taxes.
It has detected what I entered last year. I called it,
"Service: Consulting and Contract". However, I didn't do
anything at all with that last year. I didn't earn any
money at al, and I didn't spend anything at it. So, should
I delete it from TurboTax? (Unfortunately, I do not know
what line this would affect in the tax forms. This
particular window doesn't give me any line numbers.) It is,
however, in that portion of TurboTax in which it is trying
to determine all of my income.

Rod

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >