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March 11, 2025
Question

I need to change my business return from an s corp to a partnership

  • March 11, 2025
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    March 11, 2025

    You typically can't change your business return from an S corporation to a partnership directly in TurboTax Business. However, you can clear your current S-Corp data and start a new Partnership return, provided you haven't filed the S-Corp return yet. 

     

    Here’s how you can do it:

     

    Steps to Clear and Start Over in TurboTax Business

    1. Log into TurboTax Business.
    2. Go to the "Tools" Menu.
    3. Select "Tax Tools."
    4. Look for the option that says "Clear & Start Over."
    5. Confirm that you want to clear your data. Remember, this action cannot be undone.
    6. After clearing your data, TurboTax will take you to a screen where you can select "Partnership" as the type of return you want to prepare.
    7. Enter all necessary information for the partnership, including partner details and income/expense information.
    8. TurboTax will help you complete the partnership return and file.

     

    If you have already filed and need to amend see steps here. Once you have amended, you can then file a partnership return go here and select add another business; then use information here to help you file.

     

    If you need something else, provide additional details and reach back out.