- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I created an LLC back in August and failed to elect S-Corp tax treatment in time. For 2021, my taxes will run through Schedule C on 1040. Can I elect S-corp for 2022?
To clarify - I'm a single-member LLC. I recognize there was a short window to get the election completed, but is there a way to get that treatment for 2022 or future years? Or am I just completely not allowed to elect S-Corp treatment now?
A secondary question along with that is that I'll push income/expenses through Form 1040 on schedule C, and not through a K-1, correct? That means I don't actually need to file Form 1120, right? Since I'll be treated as a sole proprietor?
A secondary question along with that is that I'll push income/expenses through Form 1040 on schedule C, and not through a K-1, correct? That means I don't actually need to file Form 1120, right? Since I'll be treated as a sole proprietor?
Topics:
‎January 30, 2022
11:36 AM