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jgordosea
jgordosea, Enrolled Agent
Category: Tax
Satisfied Customers: 3159
Experience:  I've prepared all types of taxes since 1987.
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In regards to the previous question, since I switched the tax

Resolved Question:

In regards XXXXX XXXXX previous question, since I switched the tax structure on April 1 2010: do I need to file a corp return for April - Dec, and a sole proprietor with schedule C for Jan - Mar? Also, should I split the W2's for employees (myself included) between the old tax ID and the new ID? Or can it just be totaled for the year under the new corp ID? Thanks.
Submitted: 5 years ago.
Category: Tax
Expert:  jgordosea replied 5 years ago.

Greetings,

 

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.

Best wishes.

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