I am the sole owner of an S corp (new this year). My understanding is that a Schedule C is not required for S corps, but TurboTax keeps listing my business under Schedule C businesses and asking me to enter information for the Schedule C. (Maybe this is happening because I originally began entering information about my S corp as self-employed by mistake...I realized that mistake and have since deleted it).
Am I correct that I do not need to complete the Schedule C?
If I am correct, how do I remove/get around this on TurboTax? I checked the box that says "Do not report this business on this return." but it still seems to be appearing under the list of Schedule C businesses.
Thank you for any help.
Yes, that is correct, an S-Corp is not reported on Schedule C.
I suggest you delete the Schedule C if it is in your forms.
The S-Corp should have filed 1120-S and issue to you a K-1.
You enter the K-1 on your personal tax return.
If you need to delete Schedule C, switch to forms if using Desktop
Yes, that is correct, an S-Corp is not reported on Schedule C.
I suggest you delete the Schedule C if it is in your forms.
The S-Corp should have filed 1120-S and issue to you a K-1.
You enter the K-1 on your personal tax return.
If you need to delete Schedule C, switch to forms if using Desktop