Filed as an SCorp for 2021 form 1120S, but am going back to filing as an LLC partnership for 2022. I need to file a 1065. When I open TT I have the choice to transfer my form 1120S from last year or continue without transferring. I still need to use last years figures but don't know if the 1120 S figures would go into the 1065?? (And yes, I filed with the IRS to revert back to filing as an LLC and it was granted).
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Even they are both a part of the same software package (TurboTax Business) the Form 1065 and 1120-S Forms are separate programs within that package. You can't transfer data from one to the other. You will have to manually enter the data from the 2021 S-Corp return into the 2022 Partnership return.
Figured that was the way it worked. Thank you!
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