How do I report C corporation on personal tax return

[zmeya26]

Hi,

I have a question regarding my tax return as a majority stakeholder in a Delaware C corp, which I founded for my startup. The company has been incorporated and registered with the IRS, but we haven't generated any revenue yet. However, we have incurred expenses on technical tools and the Clerky legal assistant.

I would like to know if I need to report these expenses on my personal tax return, and if so, how I can do it. I currently have TurboTax home&business.

[tagteam · Accepted solution]

If your C corporation is open for business, you need to file an 1120 for the corporation.

See https://www.irs.gov/instructions/i1120#en_US_2022_publink11455td0e349