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Level 2
February 13, 2023
Solved

Inactive S Corporation

  • February 13, 2023
  • 3 replies
  • 45 views

I have filed my S Corp as inactive for the past few years as we are doing no business at the moment, but I don't want to get rid of the business just yet. My accountant usually files our taxes but if I wanted to do them myself this year and wanted to know what forms I have to file.

    Best answer by HopeS

    Yes, you can file Form 1120S yourself showing zero activity. There is no exception for an S Corp with no activity for the year.

     

    The due date is March 15, 2023.

     

    You will need Turbo Business products. Please see the link below for TurboTax Business Returns

     

    Small Business 

     

    @SarahG22 

     

    [Edited 02/14/2023| 8:36AM PST]

     

    3 replies

    CatinaT1
    Level 15
    February 13, 2023

    An S Corporation files an 1120-S Form.

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    SarahG22Author
    Level 2
    February 13, 2023

    Is this something I can do myself and just enter the same details as last year?

    HopeS
    HopeSAnswer
    Level 8
    February 13, 2023

    Yes, you can file Form 1120S yourself showing zero activity. There is no exception for an S Corp with no activity for the year.

     

    The due date is March 15, 2023.

     

    You will need Turbo Business products. Please see the link below for TurboTax Business Returns

     

    Small Business 

     

    @SarahG22 

     

    [Edited 02/14/2023| 8:36AM PST]

     

    **Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"