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kncclark
New Member

Used the online self-employed to file taxes and then realized we needed to use Business as we are LLC filing as Scorp. Already bought the business - how do I amend?

I just need to know how to complete the Business form as an amendment - can I transfer the file I did online as self-employed to the Business software so I can complete and Amended form??
1 Best answer

Accepted Solutions
ChristinaS
New Member

Used the online self-employed to file taxes and then realized we needed to use Business as we are LLC filing as Scorp. Already bought the business - how do I amend?

You can't transfer the data between a personal tax product (Self-Employed) and an entity product (Business). You might be able to reimport from Quick Books, but you can't move from SE Online to Business.

The Business return (1120-S) should be efiled as an original return, as it is not an amendment. You will need to amend your personal returns (federal and state) if they were already accepted.

I would recommend that you print your Schedule C and related worksheets and forms and use that to get through the S Corp data entry faster.

When you are done with your Scorp return:

  • you will amend your personal return. Start the amendment process from the Tax Timeline
  • remove the Schedule C, and all entries from the Business tan/ Business Income and Expenses
  • Add just the K1 that you receive with your SSN on it.
  • Finalize and mail the amendment

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2 Replies
ChristinaS
New Member

Used the online self-employed to file taxes and then realized we needed to use Business as we are LLC filing as Scorp. Already bought the business - how do I amend?

You can't transfer the data between a personal tax product (Self-Employed) and an entity product (Business). You might be able to reimport from Quick Books, but you can't move from SE Online to Business.

The Business return (1120-S) should be efiled as an original return, as it is not an amendment. You will need to amend your personal returns (federal and state) if they were already accepted.

I would recommend that you print your Schedule C and related worksheets and forms and use that to get through the S Corp data entry faster.

When you are done with your Scorp return:

  • you will amend your personal return. Start the amendment process from the Tax Timeline
  • remove the Schedule C, and all entries from the Business tan/ Business Income and Expenses
  • Add just the K1 that you receive with your SSN on it.
  • Finalize and mail the amendment

sonieboom
New Member

Used the online self-employed to file taxes and then realized we needed to use Business as we are LLC filing as Scorp. Already bought the business - how do I amend?

I got charged twice as well.  next year going to accountant, he was crappy but cheaper

 

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