I changed my LLC to an S-Corp Election in 2016. How do I account for the change and file taxes now? I used to do a schedule C but that's not applicable now...

[MichaelMc · Accepted solution]

You must now file the LLC's income and expenses using Form 1120S. This can be done using TurboTax Business (Windows Only).

When you prepare the Form 1120S, you will generate a Schedule K-1 for each member of the LLC. These must be distributed to each member timely, so that the pass through items can be included in their individual income tax returns.

[mj_fla]

Thank you!!!