We have an LLC that has always been taxed as a partnership (Form 1065). For 2020 we made the election to be taxed as an S Corp. To be clear, there was no reorg, sale, distribution of assets, change in ownership, etc. We merely filed form 2553 and elected to be taxed as an S Corp, beginning calendar year 2020. So for 2020, we will need to file form 1120S. Can Turbotax open a prior-year 1065 and "convert" that to an 1120S for 2020? Or will I have to re-key everything, including *ouch* all of the assets, prior depreciation, etc?
