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- When filling out an 1120S for an LLC with an s corp election, how do I respond to questions about stock ownership (i.e. shares owned)?
When filling out an 1120S for an LLC with an s corp election, how do I respond to questions about stock ownership (i.e. shares owned)?
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cls5289-live-co
Level 2
03-13-2022
03:39 PM
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3 Comments 3
George4Tacks
Level 15
03-13-2022
04:42 PM
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zero shares = zero ownership, so I guess the S-Corp will have to pay tax on all it's income.
I know this seems simplistic, but ...
Here's wishing you many Happy Returns
cls5289-live-co
Level 2
03-13-2022
07:09 PM
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Thanks sjrcpa. That is pretty much what I decided to do. I found an article by a cpa firm that said the same kind of thing but I always feel better with a second confirmation!
