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Level 2
December 7, 2019
Solved

How do I convert a Schedule C to an S-Corp in ProSeries? Lots of assets so hoping there is a way to convert!!

  • December 7, 2019
  • 6 replies
  • 50 views
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Best answer by rbynaker

The only way I know to do it is via Fixed Asset Manager.  Then you're stuck with FAM for the rest of your life.  You'd export from Sch C to FAM.  Import from Sch C into FAM.  Manually change the asset linking to an S Corp for each asset.  Then export from FAM to S Corp.

Is there a high school nearby where you could find someone to do cheap data entry? :)

6 replies

rbynaker
rbynakerAnswer
Level 13
December 7, 2019

The only way I know to do it is via Fixed Asset Manager.  Then you're stuck with FAM for the rest of your life.  You'd export from Sch C to FAM.  Import from Sch C into FAM.  Manually change the asset linking to an S Corp for each asset.  Then export from FAM to S Corp.

Is there a high school nearby where you could find someone to do cheap data entry? :)

Level 2
December 7, 2019
I will try that! Thanks!
Just-Lisa-Now-
Intuit Community Champion
December 7, 2019

The 1040 and the 1120S are completely separate programs, you wont be able to move the asset list from one to another automatically.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Intuit Community Champion
December 7, 2019

I believe a bulk sale will do the trick for you. Try searching the database for bulk asset sales. 

rbynaker
Level 13
December 7, 2019
But that won't get them into the S Corp module.