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becky9900
New Member

I started a S-Corp in June 2016, I have gross sales of $15,000. Do I need to file Corportation Taxes, if so, which turbotax do I need?

 
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PatriciaV
Expert Alumni

I started a S-Corp in June 2016, I have gross sales of $15,000. Do I need to file Corportation Taxes, if so, which turbotax do I need?

An LLC that has filed an S-Corp election the must file Form 1120S for S-Corps, whether it has taxable income or not. You will need TurboTax Business to prepare this business tax return.

If you have registered the LLC with your State, you may need to file partnership or corporation fees and/or taxes. Check with your State Comptroller's office for more information. You can find links here: State Departments of Revenue

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PatriciaV
Expert Alumni

I started a S-Corp in June 2016, I have gross sales of $15,000. Do I need to file Corportation Taxes, if so, which turbotax do I need?

An LLC that has filed an S-Corp election the must file Form 1120S for S-Corps, whether it has taxable income or not. You will need TurboTax Business to prepare this business tax return.

If you have registered the LLC with your State, you may need to file partnership or corporation fees and/or taxes. Check with your State Comptroller's office for more information. You can find links here: State Departments of Revenue

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