I created an LLC back in August and failed to elect S-Corp tax treatment in time. For 2021, my taxes will run through Schedule C on 1040. Can I elect S-corp for 2022?

[jm915998]

To clarify - I'm a single-member LLC. I recognize there was a short window to get the election completed, but is there a way to get that treatment for 2022 or future years? Or am I just completely not allowed to elect S-Corp treatment now?

A secondary question along with that is that I'll push income/expenses through Form 1040 on schedule C, and not through a K-1, correct? That means I don't actually need to file Form 1120, right? Since I'll be treated as a sole proprietor?

[Anonymous_]

See https://www.irs.gov/instructions/i2553#idm139855003794080

You can elect for the 2022 tax year. However, you will be treated as a sole proprietor for 2021.