@ignaciogachuzo wrote:
I used turbo tax business 2018 to complete my tax return for my LLC which I elected to file as an S-Corp so that I can include the loss from my business on my personal tax refund.
Did you previously make the election to be taxed as a corporation? Or are you trying to make that election with your 2018 tax return?
Are you aware that you will be assessed thousands of dollars of late penalties for a late S-corporation return?
Are you aware that the loss from a non-corporate business (a Sole Proprietorship) would also reduce your income on your personal tax return?
And in my opinion, NEVER make an election to be taxed as a corporation unless you have the close guidance of a tax professional.
