My turbotax form is a 1065, however I am an S-corp. How do I fix this?

Forum|Forum|3 years ago
January 23, 2023
3 replies
40 views

I was an LLC - partnership filer last year, and it looks like Turbotax helpfully converted all my stuff over for this year, however I elected s-corp status for 2022. I cannot find a place to change that, and after filling everything out, my 2022 return is still a form 1065 not a1120-s.

TurboTax Business Windows

Best answer by Anonymous_

It might not be what you want to hear, but you need to start an initial (new) 1120-S in TurboTax Business (i.e., start from scratch as an S corporation).

There is no way to transfer a 1065 to an 1120-S in the program.

Anonymous_Answer

Level 15

It might not be what you want to hear, but you need to start an initial (new) 1120-S in TurboTax Business (i.e., start from scratch as an S corporation).

There is no way to transfer a 1065 to an 1120-S in the program.

Anonymous_

Level 15

@caroletear_1234

You might also want to read the responses in the thread below.

https://ttlc.intuit.com/community/business-taxes/discussion/basis-calculation-llc-with-new-s-corp-election/00/329010

Carl

Level 11

You have to start over from scratch and select S-Corp as the type of business. So you will be filing your very fist 1120-S. Take note also that you can not import data from your prior year 1065, into the current year 1120-S. You'll be dealing with all that stuff manually.