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February 8, 2021
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Do I need to file s-corp taxes on $3,200?

  • February 8, 2021
  • 1 reply
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My s-corp only made $3,200 in 2020. Do I even need to file taxes? Thanks. 

Best answer by Anonymous_

Yes, you have to file an 1120-S as long as the election remains in effect.

 

See https://www.irs.gov/instructions/i1120s#idm140355079064496

1 reply

Employee
February 8, 2021

Yes, you have to file an 1120-S as long as the election remains in effect.

 

See https://www.irs.gov/instructions/i1120s#idm140355079064496

DiscoStuAuthor
February 11, 2021

Thanks for the info!