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September 14, 2021
Question

De minimus safe harbor rules for S Corp with zero income and expenses

  • September 14, 2021
  • 1 reply
  • 0 views

I am filing an 1120S for my S Corp. I have zero income and expenses this year. Do I need to claim de minimus safe harbor since last year I claimed it?

    1 reply

    Employee
    September 14, 2021
    Critter-3
    September 14, 2021

    If you’re filing zero income zero expense return then you’ve got nothing to take the de minimus Election on so it’s a mute subject for the 2020 return.