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February 21, 2025
Question

if I switch from a single member LLC to an s-corp mid year, can I claim all income and expenses for that year to the s-corp?

  • February 21, 2025
  • 1 reply
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    February 21, 2025

    You would report it separately. Report your income earned and expenses paid while your business was a sole proprietorship on the Schedule C. The income earned and expenses paid as of the effective date that your business converted to an S Corporation would be reported on the S Corp return.