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DiscoStu
Level 1

Do I need to file s-corp taxes on $3,200?

My s-corp only made $3,200 in 2020. Do I even need to file taxes? Thanks. 

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Accepted Solutions
tagteam
Level 15

Do I need to file s-corp taxes on $3,200?

Yes, you have to file an 1120-S as long as the election remains in effect.

 

See https://www.irs.gov/instructions/i1120s#idm140355079064496

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2 Replies
tagteam
Level 15

Do I need to file s-corp taxes on $3,200?

Yes, you have to file an 1120-S as long as the election remains in effect.

 

See https://www.irs.gov/instructions/i1120s#idm140355079064496

DiscoStu
Level 1

Do I need to file s-corp taxes on $3,200?

Thanks for the info!

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