Form 8832

Forum|Forum|4 years ago
February 24, 2022
4 replies
44 views

I filed form 8832 to revert back to llc from s corp. I will have two months of s corp business and 10 months of llc business. Do I file two different tax returns for the year.

Best answer by AliciaP1

Yes, you will file the Final S-Corp return with 2 months of activity and either a partnership return (if more than 1 member) or a Schedule C (for single-member LLC) on your personal 1040.

AliciaP1Answer

Level 13

Yes, you will file the Final S-Corp return with 2 months of activity and either a partnership return (if more than 1 member) or a Schedule C (for single-member LLC) on your personal 1040.

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AmeliesUncle

Level 15

If the corporate taxation ended at the end of February, the corporate return is REALLY late and is subject to some rather large penalties.

Benny12Author

Level 4

I've just finished the taxes for the s corp for 2021. I'm not late. The scenario I stated is happening now. I'm looking forward, trying to get all my ducks lined up, for next year's (2022) taxes.