As I progress through the return, I realize I have more questions. In the Depreciation of Assets (that I had acquired as a Sole Proprietor), can I deduct those now as an S Corp. If so, do I separate the depreciation accordingly before and after the S Corp formation and include the depreciation as a Sole Proprietor in Schedule C and the depreciation as an S Corp in the 1120S?
For Business Expenses, some of the expenses that I made while already an S Corp, I used my Sole Proprietor Bank Account (with my SSN) to pay. Later, I opened the S Corp Bank Account (with EIN) which I use strictly use now. Can I deduct all the expenses incurred since becoming a S Corp in the 1120-S even though they came out of my Sole Proprietor Bank Account?
One last question (for now). I purchased a car under my name (not the S Corp's name) that I use for both personal and business purposes. Can I deduct car expenses as an S Corp or do those go into my personal income tax return?
I know that is a lot of questions. Thank you for your help.
