Form 8832

[Benny12]

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.

[AliciaP1 · Accepted solution]

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.

[AmeliesUncle]

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

[Benny12]

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.  

[AmeliesUncle]

The S-corporation return was due 2.5 months after the S-corporation ended.