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New Member
posted Jun 4, 2019 7:18:49 PM

File my LLC as S corp after many years of filing as LLC on TT. TT wont let me change it to an S Corp.

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1 Best answer
New Member
Jun 4, 2019 7:18:55 PM

Since you previously filed a 1065 form for your LLC business taxes and now need to file a 1120S form, you will want to start a new tax return in TurboTax Business and do not opt to transfer in your return from last year (select you will continue without transferring).  This will allow you to set up the business return as one for an SCorp.  Therefore, you will have some set up entry to do since it will be like entering a new business, but you will be able to create the 1120S form.   

The 1065 and 1120S forms are programmed completely differently so there is not a way to transfer previous years data from one form type to another.  

6 Replies
New Member
Jun 4, 2019 7:18:50 PM

Was the LLC a single member LLC before it was changed to S Corp status?

New Member
Jun 4, 2019 7:18:51 PM

my wife and I are in the LLC

New Member
Jun 4, 2019 7:18:53 PM

Ok. So previously as the LLC did you file a 1065 form?

New Member
Jun 4, 2019 7:18:54 PM

Yes, I filed a 1065 in 2016. Now when I transfer my 2016 into 2017 it doesn't allow me to change the filing as an S Corp.

New Member
Jun 4, 2019 7:18:55 PM

Since you previously filed a 1065 form for your LLC business taxes and now need to file a 1120S form, you will want to start a new tax return in TurboTax Business and do not opt to transfer in your return from last year (select you will continue without transferring).  This will allow you to set up the business return as one for an SCorp.  Therefore, you will have some set up entry to do since it will be like entering a new business, but you will be able to create the 1120S form.   

The 1065 and 1120S forms are programmed completely differently so there is not a way to transfer previous years data from one form type to another.  

Level 15
Jun 4, 2019 7:18:57 PM

Hopefully you closed the partnership at the end of 2016 and filed a final form 1065 if not the IRS will be expecting one.  Also you probably need to open the S-corp with a new name &/or EIN   or make the s-corp election depending on your state's rules ... this can get messy so I highly recommend you seek local professional guidance in this matter if you have not completed the proper paperwork yet.