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rycreed
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I switched my sole proprietor business to an s corporation in September of 2015. How do I file? Schedule C, or 11120 or both?

 
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2 Replies
DDollar
Expert Alumni

I switched my sole proprietor business to an s corporation in September of 2015. How do I file? Schedule C, or 11120 or both?

You will need to report your business income and expenses through the date of incorporation on Schedule C.  You will report the remainder of the year's business operations on Form 1120-S.  If you had any depreciable assets you transferred to the S-Corp, make sure you "dispose" of them in 2015 for Schedule C.

I switched my sole proprietor business to an s corporation in September of 2015. How do I file? Schedule C, or 11120 or both?

how do i do this on turbo tax. I dont understand how to do both , if im just following the questions. Some questions as "entire year" what to i put for that ?
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