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Question

Will I apply S Corp for month December of 2024 if applied in year 2025?

Forum|Forum|1 year ago
March 17, 2025
1 reply
0 views

Business started in December of 2024. No S Corporation was filed.

I think you mean you applied for S corporation status for the company to be effective starting in January of 2025, but you started doing business in December of 2024. Assuming you are a calendar year filer, you should not enter the December 2024 income and expenses on the 2025 S corporation tax return. Rather, you should report that income and expenses on the form for whatever tax entity you were before January of 2025, typically a sole-proprietorship, partnership or "C" corporation.

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