Schedule c sole proprietorship, when i actually have a S corp. how do i fix, and should have filed a 1120

[SweetieJean · Accepted solution]

Actually, you should have filed an 1120-S, which is already very late.  This requires TT Business, which is only available as a desktop version, and then only for Windows.

https://turbotax.intuit.com/small-business-taxes/

You will then have to amend (Form 1040X) your personal return by mail.

https://ttlc.intuit.com/questions/3061514-how-do-i-amend-a-2016-return-in-turbotax

Also see:

https://www.irs.gov/businesses/small-businesses-self-employed/s-corporations

[Critter]

Complete the 1120-S first and then amend the personal return since you will need to remove the Sch C & add the K-1 at the same time.

[rjs]

Did you already file your personal 1040 tax return with the Schedule C? SweetieJean and Critter#2 assumed that you already filed it. If you have not filed it, you don't amend it. Just remove the Schedule C and enter the Schedule K-1 from the S corp before you file.

[TaxGuyBill]

If this is your first year as a corporation, I REALLY, REALLY recommend going to a tax professional for AT LEAST the first year.  Doing things wrong can easily cost you thousands of dollars.

If you received money from the corporation, did the corporation file all of the required payroll forms, and issue you a W-2?

[rogerlmeyer1]

How does one remove a schedule C before filing?