I have an LLC incorporated and received an s-corp designation in aug 2018, however not open for business until 2019. How do I file for 2018, or do I need to?

donevill2 · ‎June 3, 2019

MinhT · ‎June 3, 2019

As you have elected to be taxed as a S-Corp, you have to file a tax return (form 1120S) even if the S-corp did not have any income or expense in 2018.

Please read this IRS document for more information:

https://www.irs.gov/faqs/small-business-self-employed-other-business/entities/entities-4

To file form 1120S, you need to use TurboTax Business.

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View solution in original post

MinhT · ‎June 3, 2019

As you have elected to be taxed as a S-Corp, you have to file a tax return (form 1120S) even if the S-corp did not have any income or expense in 2018.

Please read this IRS document for more information:

https://www.irs.gov/faqs/small-business-self-employed-other-business/entities/entities-4

To file form 1120S, you need to use TurboTax Business.

**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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I have an LLC incorporated and received an s-corp designation in aug 2018, however not open for business until 2019. How do I file for 2018, or do I need to?