Pricing
Support
Discuss
TurboTax.com
Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Yes No
cancel
Turn on suggestions
Showing results for 
Search instead for 
Did you mean: 
DiscoStu
Level 1
posted
‎February 8, 2021 9:57 AM
last updated ‎February 08, 2021 9:57 AM

Do I need to file s-corp taxes on $3,200?

My s-corp only made $3,200 in 2020. Do I even need to file taxes? Thanks. 

0
2
136
Reply
1 Best answer

Accepted Solutions
tagteam
Level 15
Level 15
‎February 8, 2021 10:00 AM

Do I need to file s-corp taxes on $3,200?

Yes, you have to file an 1120-S as long as the election remains in effect.

 

See https://www.irs.gov/instructions/i1120s#idm140355079064496

View solution in original post

1
132
Reply
2 Replies
tagteam
Level 15
Level 15
‎February 8, 2021 10:00 AM

Do I need to file s-corp taxes on $3,200?

Yes, you have to file an 1120-S as long as the election remains in effect.

 

See https://www.irs.gov/instructions/i1120s#idm140355079064496

1
133
Reply
DiscoStu
Level 1
‎February 11, 2021 10:01 AM

Do I need to file s-corp taxes on $3,200?

Thanks for the info!

114
Reply

Found what you need?

Start my taxes

Already have an account? Sign In

rating image(4.6/5 | 291,310 reviews)

Top help articles

view all
What is Form 1065, U.S. Return of Partnership ...
How do I claim the Qualified Business Income D...
How do I enter a 1099-K in TurboTax Online?

Still have questions?

Make a post

Or browse the Forums

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.63m
Discussions

Quick links

link icon First Time Here?
link icon Community Do's & Don'ts
link icon Upcoming Events
link icon Ready to file your taxes?

Estimate your self-employment tax and eliminate any surprises

Check it out


Dynamic AdsDynamic Ads
Meet your expertsAll Experts >
RalphH1
Enrolled Agent since 2008, Intuit Tax Expert since 2011.
JosephS1
Been with Intuit for going on 6 years now. Been part of TTLive, Full Service TTL, was part of Accuracy guaran...
SharonD007
EA with 18 years of tax experience.
AbrahamT
CPA
LindaS5247
I am an Enrolled Agent. I worked for the I.R.S. for 33 years. I spent my last 11 years at the I.R.S. in Mand...
Manage cookies
v
ABCDEFGHIJKLMNOPQRSTUVWXYZabcdefghijklmnopqrstuvwxyz0123456789-_~