Hi, we have an active SCorp but we are not conducting business and have 0 expenses and 0 income. We just pay $35 filing fee annually to keep the SCorp open. Do we need to file 1120S?

gpicinc · ‎June 4, 2019

WillK · ‎June 4, 2019

Yes, even though you have no income or expenses for the S-corporation, the IRS still requires that you file a return. The S-corporation returns were due March 15, 2017, so please file it as soon as you can since it is late. You can use Turbo Tax Business to file the return: https://turbotax.intuit.com/small-business-taxes/

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WillK · ‎June 4, 2019

Yes, even though you have no income or expenses for the S-corporation, the IRS still requires that you file a return. The S-corporation returns were due March 15, 2017, so please file it as soon as you can since it is late. You can use Turbo Tax Business to file the return: https://turbotax.intuit.com/small-business-taxes/

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gpicinc · ‎June 4, 2019

Thank you Turbo Tax Will! I'm a first time user and am using Turbo Tax Self Employed....we are both W2ed and I have a Sch C in addition to our dormant SCorp - is Turbo Tax Business different from what I am using?

WillK · ‎June 4, 2019

Yes, Turbo Tax Business is for corporations. Keep using the self-employed version for everything else!

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Hi, we have an active SCorp but we are not conducting business and have 0 expenses and 0 income. We just pay $35 filing fee annually to keep the SCorp open. Do we need to file 1120S?