What’s the process of Changing my filing status from personal to a corporation ?

Forum|Forum|1 year ago
January 12, 2025
2 replies
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Filing 2025 taxes

Best answer by xmasbaby0

You will not be preparing a "2025" return. The returns being prepared currently are 2024 returns--for the tax year that just ended.

"Filing status" refers to whether you file single, married filing jointly, etc etc. etc.----not whether you are filing a personal or corporate return.

If you have a corporate return to prepare you are going to need two different software programs--one for the corporate return and one for the personal return.

If you have to prepare a return for an S-corps, C-corps, or multi-member partnership you need TurboTax Business software. You need Windows for this.

https://turbotax.intuit.com/small-business-taxes/

Your own personal Form 1040 must be prepared on either online TurboTax or any version of the desktop download software.

xmasbaby0Answer

Employee

You will not be preparing a "2025" return. The returns being prepared currently are 2024 returns--for the tax year that just ended.

"Filing status" refers to whether you file single, married filing jointly, etc etc. etc.----not whether you are filing a personal or corporate return.

If you have a corporate return to prepare you are going to need two different software programs--one for the corporate return and one for the personal return.

If you have to prepare a return for an S-corps, C-corps, or multi-member partnership you need TurboTax Business software. You need Windows for this.

https://turbotax.intuit.com/small-business-taxes/

Your own personal Form 1040 must be prepared on either online TurboTax or any version of the desktop download software.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

rjs

Employee

You can't change from personal to a corporation. You always have to file a personal Form 1040 tax return. If you own a business that is a corporation, the corporation must file its own tax return, separate from your personal tax return. A C corp files Form 1120; an S corp files Form 1120-S. Your income from the corporation has to be entered in your personal tax return. Exactly how that is done depends on whether it's a C corp or an S corp.