decoursey01
Level 1

Can I switch for a SMLLC who filed a 1120 last year, to one that is not a pass-thru entity and files a 1040 in 2021?

 

Titus D

0 Cheers
sjrcpa
Level 15

No. Once you make an election to be taxed as a corp, you are pretty much stuck.

And an 1120 is not a pass through entity return.


The more I know the more I don’t know.