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Dissolution of Sole proprietorship in tax return.

In 2011 I showed 5000 loss. But I'm a w2, this was a side businesse I no longer do. I'm trying to get a conditional approval for a new construction. That would start in 2012 Dec. How do I prove dissolution of business that I never filed with county? This was a starting business I thought of doing at that time.
  • October 27 2012 - Dallas
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Answers (3)

If you never filed for a tax id number, officially claimed that you were operating as a business, then there is nothing to dissolve. Many times a sole proprietor business can be viewed as a hobby if there is no substantial income generated.
  • October 28 2012
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Profile picture for My2cent$
You can't prove the business is closed how can you prove the loss won't recur. In the absence of proof that future losses will not occur they have to assume previous loses will continue.
  • October 28 2012
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Profile picture for user044646
is there a way i can show the sole proprietorship is closed or sold, so that i can end the story in the tax form itself. so that the underwriter doesn't think there will be future re-occuring losses from any business.
  • October 29 2012
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