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New Member
posted Oct 26, 2023 6:31:01 AM

Filing Before End of Year if Business Closed?

We have sold our business assets and have voted to dissolve our S-Corporation as of 9/30/2023. Can we still wait until January to file our final return for 2023? I seemed to have read you have 3 months from the 15th day after you decide to dissolve. If thats the case what software would I use to complete this year before Dec 15th? Thanks

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3 Replies
Level 15
Oct 26, 2023 7:30:18 AM

If you have to file on or before December 15th, you can use the 2022 version of TurboTax Business.

 

Note that you will have to print and mail the return since you will have to make a couple of date corrections on at least one form and the K-1(s).

New Member
Oct 26, 2023 8:04:59 AM

Thank you for the quick response! So I can file an entirely new return with the 2022 software? And it will allow me to enter data for 2023? I will open it up and see what I can do tonight. Thanks for your help!

 

Level 15
Oct 26, 2023 8:40:56 AM

The 2022 software will show the tax year beginning date in 2022 on the 1120-S. You will have to print that out and make the correction (to 2023). Similarly, the K-1(s) will also need correcting.