Form 8832

4 replies
52 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.

AliciaP1Answer

Alumni - Intuit

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.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

AliciaP1Answer

Alumni - Intuit

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.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

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.