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Level 1
Mar 16, 2022 4:16 AM UTC
Question

Single Member LLC

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

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1 reply

sjrcpa
Level 15
Mar 16, 2022 2:15 PM UTC

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.