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gpicinc
New Member

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?

 
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WillK
Intuit Alumni

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?

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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3 Replies
WillK
Intuit Alumni

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?

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/

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

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?

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
Intuit Alumni

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?

Yes, Turbo Tax Business is for corporations. Keep using the self-employed version for everything else!
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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