Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jan 22, 2023 4:48:56 PM

My turbotax form is a 1065, however I am an S-corp. How do I fix this?

I was an LLC - partnership filer last year, and it looks like Turbotax helpfully converted all my stuff over for this year, however I elected s-corp status for 2022.  I cannot find a place to change that, and after filling everything out, my 2022 return is still a form 1065 not a1120-s.

0 3 301
1 Best answer
Level 15
Jan 22, 2023 5:28:12 PM

It might not be what you want to hear, but you need to start an initial (new) 1120-S in TurboTax Business (i.e., start from scratch as an S corporation).

 

There is no way to transfer a 1065 to an 1120-S in the program.

3 Replies
Level 15
Jan 22, 2023 5:28:12 PM

It might not be what you want to hear, but you need to start an initial (new) 1120-S in TurboTax Business (i.e., start from scratch as an S corporation).

 

There is no way to transfer a 1065 to an 1120-S in the program.

Level 15
Jan 22, 2023 5:44:08 PM

You have to start over from scratch and select S-Corp as the type of business. So you will be filing your very fist 1120-S. Take note also that you can not import data from your prior year 1065, into the current year 1120-S. You'll be dealing with all that stuff manually.

 

Level 15
Jan 22, 2023 6:39:19 PM