If the IRS accepted your S-Corporation election on January 1, then you would be able to report the payments to subcontractors on Form 1099-Misc using the identification number from your S-corporation. Otherwise, you will need to have two separate 1099-Misc Forms: one for amounts paid to subcontractors while your business was an LLC and one for amounts paid when your business became an S-Corporation. This is because each business entity reports its income and expenses on a separate tax form.
If the LLC was a one-member LLC, the income and expenses are reported on Schedule C of your individual tax return. Whereas the income and expenses from the S-Corporation must be reported on Form 1120-S. Then, each shareholder of the S-Corp will receive a K-1 that reports his or her share of the net income (loss) from the S-Corp to be reported on their individual tax returns.
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