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null200
New Member

In 2015 my business was a Sole Proprietorship. In 2016 I took on a partner and we changed the business to an S-Corp. How do I make that change in Turbo Tax?

 
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RichardK
New Member

In 2015 my business was a Sole Proprietorship. In 2016 I took on a partner and we changed the business to an S-Corp. How do I make that change in Turbo Tax?

In the year you close your sole proprietorship, when you are entering the information in Turbotax, you check the box indicating that you disposed of the business, and then complete the following pages, click here for more information.

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RichardK
New Member

In 2015 my business was a Sole Proprietorship. In 2016 I took on a partner and we changed the business to an S-Corp. How do I make that change in Turbo Tax?

In the year you close your sole proprietorship, when you are entering the information in Turbotax, you check the box indicating that you disposed of the business, and then complete the following pages, click here for more information.

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