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I have a C corp with a partner but i think i filed as a self employed does that matter

 
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I have a C corp with a partner but i think i filed as a self employed does that matter

Yes, that matters a GREAT DEAL.

 

If you have C corporation, that entity must file a return.  Income and deductions are shown on that return and that entity may/may not have to pay income taxes, depending on the taxable income.

 

Money or property that you took out of the C Corporation will be treated as dividends, and taxed to you as dividends.  Salary that you took out of the C Corporation should have been treated as salary and the C corporation should have paid FICA taxes and withheld FICA taxes from your salary and possibly federal & sate W/H amounts for income taxes.

 

None of the income and deductions of the C corporation should appear on your F1040.  Also, if you have a partner that is also a shareholder, why would you put it as self-employed?

Here is a link to publication 542, Corporations....it should answer many questions.  Note, all corporations must file a return unless they are exempt from tax under IRC Section 501.  That would probably NOT apply to your corporation.

 

https://www.irs.gov/pub/irs-pdf/p542.pdf

 

 

**Disclaimer: Effort has been made to offer correct information; but due to the discussion forum limitations, the poster disclaims any legal responsibility for the accuracy of the poster's response**
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