Have Tax Questions? Ask a Tax Expert for Answers ASAP
You will have to include the income and expenses prior to incorporation on your Schedule C similar to how it had previously been included for the full year.
The corporation will file a short year return beginning on the active date to the end of the year (such as 4/1-12/31/2010).
There must be two sets of W-2 and W-3 for the separate entities. Base the split on which entity was operating when the wages were earned.
You can not total the wages and just report it all under the corporation.
Please ask if you need clarification.