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Qsub - Shouldn't there be an 1120S


BulldogTom

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I got a referral this week that has me scratching my head.   It is a former co-worker who called me.   Her new boss does not like the preparer of the tax return for the corporation and tasked my friend to find someone to take it on.   I tell her I will look at it but no guarantees.   She sends me over the 2017 tax returns, and one corp states that they are a QSub of the other corp.   But the other corp is not filing an 1120S, they are filing an 1120.

Correct me if I am wrong please.   Isn't a QSub election made so that an Scorp can own another corp?   What am I missing in this scenario?

Thanks

Tom
Modesto, CA

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