topic Re: S Corp effective date issue in Get your taxes done using TurboTax

S Corp effective date issue

RelevantTech — Thu, 27 May 2021 00:06:14 GMT

My LLC came into existence on 02/29/20. Soon after a month or so, I filed form 2553 and got effective date of S Corp as 02/29/20.

I'm filing my taxes 1120S . In the form section A asks for S corp election date. I enter 02/29/20 , it doesn't allow me to transmit the returns. In the section G - is the corp electing to be the S Corp this year, I checked 'Yes'.

do I need to again submit 2553 form again along with the returns? I know that its not required as I already did.

The only option left for me is to print and mail the returns.

Can anyone help me here so I can transmit my returns through eFile?

Re: S Corp effective date issue

Anonymous_ — Thu, 27 May 2021 01:09:37 GMT

Enter Forms Mode and open your S Corporation Information Worksheet.

In Part II, uncheck the Calendar year box and check the Short year box. If your beginning and ending dates are not populated, enter those dates.

Re: S Corp effective date issue

RelevantTech — Thu, 27 May 2021 05:14:22 GMT

Thanks!

Filed.