Tax Explorer
Level 4
07-08-2024
09:33 AM
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Hi,
Is it possible for a corporation that currently files an 1120-S to elect to file a 1065? Has anyone attempted to do so before?
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sjrcpa
Level 15
07-08-2024
09:50 AM
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If it is a corporation, No.
If it is an LLC, Yes but that is a deemed liquidation (taxable) followed by a contribution to the partnership.
The more I know the more I don’t know.
