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

[rbynaker · Accepted solution]

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? 🙂

[traciemarone]

I will try that! Thanks!

[Just-Lisa-Now-]

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

[garman22]

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

[rbynaker]

But that won't get them into the S Corp module.

[garman22]

Oh, I see. Sure, that is true. I thought they wanted to get assets out of Sch C.