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lisa12
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I bought an S corporation July 1 and I am responsible for filing all tax returns. Do I file one return or two (each for 6 months with different owners)?

 
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4 Replies

I bought an S corporation July 1 and I am responsible for filing all tax returns. Do I file one return or two (each for 6 months with different owners)?

This is nothing you want to complete yourself due to the complexity of the situation especially if your books are not in order  ... seek qualified professional assistance.
lisa12
New Member

I bought an S corporation July 1 and I am responsible for filing all tax returns. Do I file one return or two (each for 6 months with different owners)?

Thanks. Everyone keeps telling me different things. Do I go to someone who wants to file two returns, or just one and show the ownership change?

I bought an S corporation July 1 and I am responsible for filing all tax returns. Do I file one return or two (each for 6 months with different owners)?

If you bought the shares of the existing corporation, only one corporate tax return would be filed.

If you bought all of the assets of a business and formed a new corporation, then two corporate tax returns are filed (one by you, one by the former owner).
lisa12
New Member

I bought an S corporation July 1 and I am responsible for filing all tax returns. Do I file one return or two (each for 6 months with different owners)?

THANK YOU VERY MUCH!
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