Question on LLC/SCorp Tax Returns

[Anonymous]

Have a question as I go through everything this is in regards to TurboTax Business 2019:

1- We started a multi-member (wife and I, both own 50% equal shares) LLC incorporated in Delaware (we live in NYC), we also elected to be treated as an S-Corp by the IRS. When I first start the return as an "S-Corp" in the program, it asks for the name of the S-Corporation name and the for the DBA name. Now the thing is we have three DBAs, should I just enter one of them here? should I enter all of them separated by a comma? Where can I enter more than one DBA? I dont see it anywhere in the program

[tagteam · Accepted solution]

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@Anonymous wrote:

When I first start the return as an "S-Corp" in the program, it asks for the name of the S-Corporation name and the for the DBA name. Now the thing is we have three DBA....

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The DBA you enter in the program only gets transferred to the Information Worksheet (and, possibly, a state return, if required); it is not transferred to your 1120-S from the DBA line.

You can enter as many DBAs as you have (preferably separated by a comma, dash, or some other form of punctuation) so that the DBAs are transferred to the worksheet.

Generally, some states require registration when a company or individual is doing business in a name other than the company name or the name of the individual.

[Anonymous]

Great thanks, I will be sure to separate each DBA using a comma.

Having said that I assume that all the expenses/income for all three DBAs are basically rolled up into the SCorp when I enter the information in the various screens (basically I enter total amounts for the SCorp since there is no separate income/expense breakout  for each DBA?) and that is how its reported?

[tagteam]

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@Anonymous wrote:

....(basically I enter total amounts for the SCorp since there is no separate income/expense breakout  for each DBA?) and that is how its reported?

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Yes, that is how it is reported on the federal income tax return (Form 1120-S).

[Anonymous]

Great thanks!