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troop_1553
New Member

What is normal when you file an 1120S return to receive a refund?

 
2 Replies
bwa
Alumni
Alumni

What is normal when you file an 1120S return to receive a refund?

There is no relationship between an 1120-S and a refund.  Your refund depends on all your income, whatever taxes you paid in through wage withholding and estimated tax credits and any credits you had.  The source of the income usually doesn't matter.

(However, there is no refund due on the Form 1120-S itself because it is essentially only an information return.)
troop_1553
New Member

What is normal when you file an 1120S return to receive a refund?

so where does the funds go as turbo tax showed the refund would be deposited within 10-16 days?
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