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Started an S-Corp in 2017 with no income, do I need to file 1120s and K-1s for 2017?
My husband and I began an S-Corp in 2017 with each of us being a 50% shareholder. We had minimal expenses and no income. Do we need to file an 1120s and give ourselves K-1s for 2017 or do we wait until we make income (possibly in 2018) to report the expenses on a 1120s?
Thanks in advance!
June 6, 2019
8:09 AM
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Business & farm
The IRS will be looking for the S-corporation return to be filed for 2017. Even though you did not have any income, you do have expenses to report, which will carry over to your K-1's.
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June 6, 2019
8:09 AM