S-CORP

Sam Hopi — Thu, 15 Jan 2026 01:59:53 GMT

Hi I have a question for my S-corp.

S-corporation was formed on 01/03/2022 in California and operated there until 01/29/2025, when it moved to Virginia.

From 01/01/2025 to 01/29/2025, the company had $1,500 of income and $3,500 of expenses. As in prior years, the company also has depreciation on three assets. The date in service for three assets is for 2023 and they ( office improvement - furniture and an equipment) furniture and an equipment moved to VA but office improvement remained in CA.

S-corporation has only one shareholder, I live in Virginia as resident as of 01/01/2025.

On 01/29/2025, I started S-corporation in Virginia, and on the same day terminated/withdrew the S-corporation from California.

I understand that I should file one federal return and two state returns (California and Virginia). I need help understanding how to correctly file the federal, California, and Virginia returns, making sure that California income is limited to the 29-day period. The numbers in CA return are different the Federal return!! FTB and VA TAX DEPARTMENT may shocked because of this discrepancy. Also, what should I do for depreciation assets.

topic S-CORP in Deductions & credits

S-CORP