To reflect this change you will need to open up the S-Corp return (Form 1120S). Opening up this section will require you to re-enter all of the business information because of the change in structure. However, on this return you reflect the Corp election change. You will be asked when was the first day the entity became an S-Corp. This will be the date the IRS approved on your election request (Form 2553). If you don't already have this software, you will need TurboTax Business to complete this return.
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