I started an S corporation but at present, I am the only shareholder. I also worked and receive a W2. How do I file? should i file the S. Corporation first then my 1040?

[belinda-19]

I worked for another company and received a W2. separate and apart from The S Corporation that I have formed. I also have a few clients that the corporation generates income from as well as expenses.  How do I file the Taxes?  Should I file the S Corporation return first seeing that I am the only shareholder so far and a 1040 individual return as well?

[JulieCo · Accepted solution]

An S Corporation is required to file a separate tax return, Form 1120S.  S Corp returns can be prepared using TurboTax Business.  And, yes, you will need to prepare and file the 1120S form first, because then a K-1 form will be generated that you will use to include the S Corp income on your personal return.  Your personal income tax return will need to use an individual version of TurboTax as TurboTax Business only creates business entity returns. 

Also, note that the S Corp return, Form 1120S, was due March 15, 2019 of this year.

TurboTax Business