ncCPAp on the GO!

Election of "S" , Final return ?

  • 1.  Election of "S" , Final return ?

    Platinum Most Valuable Member
    Posted 05-28-2019 11:24
    when a taxpayer elects from "C"  to "S", is it proper to mark the  "c"  as 1120   FINAL, or do you think we just continue filing with 1120"S" returns?

    Any Comments appreciated.


    ABBY

    ------------------------------
    Abby Alhante
    KURCIAS & ALHANTE, CPAs LLC
    Melville NY
    ------------------------------


  • 2.  RE: Election of "S" , Final return ?

    Platinum Most Valuable Member
    Posted 05-29-2019 07:55
    I've never marked the 1120 as final as the entity is not filing its' final return.  Rather, it's simply filing its' last return as a "C".  Therefore, I don't think it's appropriate to check as final.  More issues could arise marking it as final

    ------------------------------
    Stephen Mankowski
    MANKOWSKI ASSOCIATES, CPA, LLC
    smankowski@mankowskicpa.com
    215-682-7366
    ------------------------------



  • 3.  RE: Election of "S" , Final return ?

    Platinum Most Valuable Member
    Posted 05-29-2019 10:59

    Thank you for your comment...

     

    That seems to be the general consensus

     

     

    Abby Alhante,  CPA

     

    Kurcias  & Alhante, LLC  CPAs

    525 Broadhollow Road   Suite 104

    Melville NY  11747

    516.829-5890  Fax 516-829-3976

    Mobile 516-381-9301

    AbbyA@KurciasAlhanteCPAs.com

    ( E mail response preferred )