schirallicpa Posted November 26, 2021 Report Share Posted November 26, 2021 Perhaps a dumb question. But the LLC is not incorporated. Do I answer these questions? Quote Link to comment Share on other sites More sharing options...
DANRVAN Posted November 26, 2021 Report Share Posted November 26, 2021 Just put in the effective date of the S-corp. election. Quote Link to comment Share on other sites More sharing options...
Lee B Posted November 26, 2021 Report Share Posted November 26, 2021 The instructions don't address this, but I would leave them blank. Quote Link to comment Share on other sites More sharing options...
DANRVAN Posted November 26, 2021 Report Share Posted November 26, 2021 2 minutes ago, cbslee said: The instructions don't address this That is true, but I put in the date that will show as the beginning of the first tax year on 1120-S rather than leaving it blank. Have not had an issue with it. Quote Link to comment Share on other sites More sharing options...
DANRVAN Posted November 26, 2021 Report Share Posted November 26, 2021 10 minutes ago, DANRVAN said: date that will show as the beginning of the first tax year Date of incorporation that will show on 1120-S. Quote Link to comment Share on other sites More sharing options...
Lee B Posted November 26, 2021 Report Share Posted November 26, 2021 1 hour ago, schirallicpa said: Perhaps a dumb question. But the LLC is not incorporated. Do I answer these questions? It appears to me that you have interpreted the issue correctly. I think that the date of incorporation and the state of incorporation are "state" related questions not "federal" related questions and that is why I would leave the questions blank. Quote Link to comment Share on other sites More sharing options...
DANRVAN Posted November 26, 2021 Report Share Posted November 26, 2021 1 hour ago, cbslee said: not "federal" related questions I have to disagree, otherwise why would they ask the questions? My interpretation is the IRS wants to know when the entity was incorporated and in what state. In the OP, the incorporation date is the same as the effective S-CORP election date, that will match the incorporation date on 1120-S. 1 hour ago, cbslee said: I would leave the questions blank. And possibly receive a rejection or request for additional information? Have you filed one that way before? Quote Link to comment Share on other sites More sharing options...
Lee B Posted November 26, 2021 Report Share Posted November 26, 2021 25 minutes ago, DANRVAN said: My interpretation is the IRS wants to know when the entity was incorporated and in what state. Exactly my point Quote Link to comment Share on other sites More sharing options...
Lee B Posted November 26, 2021 Report Share Posted November 26, 2021 26 minutes ago, DANRVAN said: Have you filed one that way before? Yes, I filed one that way early this year. Quote Link to comment Share on other sites More sharing options...
DANRVAN Posted November 26, 2021 Report Share Posted November 26, 2021 6 minutes ago, cbslee said: Exactly my point Hate to drag this on, but then why leave it blank and withhold the information requested by the IRS? Here is a second "opinion" per https://www.thetaxadviser.com/issues/2013/dec/casestudy-dec2013.html "......the effective date of the S election could be entered." Quote Link to comment Share on other sites More sharing options...
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