3091189
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

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

smack-227
New Member

Should i file return for a s corp

i didn't the see the form in document 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

4 Replies

Should i file return for a s corp

An S Corporation tax return, Form 1120S, can only be completed and filed using the TurboTax Business Edition.  The Business Edition has to purchased, downloaded and installed on a Windows based personal computer.

 

Go to this TurboTax website for the 2022 Business Edition - https://turbotax.intuit.com/small-business-taxes/

Should i file return for a s corp

By the way the normal due date for a calendar S-Corp return is 9/15 of the following year, so it's likely you're filing late. expect a penalty notice. 

Should i file return for a s corp

I STRONGLY recommend going to a tax professional for the corporation.  In my opinion, corporate taxes are NOT a do-it-yourself thing.  And especially if this is your first year.

 

And as was noted, the corporate return is late.  And if you didn't file an extension for the corporation (which is different than the extension for your personal tax return), the late-filing penalty is already over $1500 per shareholder.   So this is something you really need to go to a tax professional.

 

 

Should i file return for a s corp

Or do you need to enter a K-1 you got from the S corp?  You need Premier or Premium or the Self Employed version to enter a K-1.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question