USA How to tell if a Corporation is a S or C Corporation?

Joined
Apr 26, 2016
Messages
1
Reaction score
0
Country
United States
Hello, so I've decided I'm going to do the taxes for my family's corporation for 2016 since one of the members is too old to do the book-keeping and I have a ton of free time. The corporation in question is either an S or C Corporation, the most knowledgeable one thinks it's an S (and she's probably right), but I don't want to screw this up at all, and if there was anyway that i can find out myself by looking at previous tax returns, bank statements, ect. When i look at the IRS website, it doesn't give any clear indications of the difference in the kinds of forms they have to file. Plus, the CPA who normally does this hasn't been wonderfully communicative with me and I don't want to ask.

Thanks
 

kirby

VIP Member
Joined
May 12, 2011
Messages
2,445
Reaction score
332
Country
United States
You should have a copy of last year's tax return. Look at the form number. If it is 1120 - they filed as a C corp. If it is 1120-S they filed as an S corp.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top