Filing a Corporate Tax Return

Forum|Forum|3 years ago
March 25, 2023
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I created a corporation in 2022 that had no income and no expenses. Do I still have to file a corp tax return?

Thank you.

TurboTax Business Windows

Best answer by Anonymous_

@hwillis wrote:

I created a corporation in 2022 that had no income and no expenses. Do I still have to file a corp tax return?

Yes. You did not mention whether the corporation is a C corporation or an S corporation, but a return has to be filed for either entity, regardless of whether there are any expenses or income.

See https://www.irs.gov/instructions/i1120s#en_US_2021_publink11515kd0e292

Anonymous_Answer

Employee

@hwillis wrote:

I created a corporation in 2022 that had no income and no expenses. Do I still have to file a corp tax return?

Yes. You did not mention whether the corporation is a C corporation or an S corporation, but a return has to be filed for either entity, regardless of whether there are any expenses or income.

See https://www.irs.gov/instructions/i1120s#en_US_2021_publink11515kd0e292

hwillisAuthor

Thanks fore responding. C Cosrp in 2022. I just received my subchapter S designationback in November but was told by the IRS I can start to take that election starting this year.

I also realized I purchased the wrong version of Turbo Tax. I bought the home and business version thinking I could use it to create me form 1120. Nope, I need Turbo Tax Business for that.