C-Corp to S-Corp

Technical topics regarding tax preparation.
#1
anepcar  
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texas
I am converting a C-Corp to S-Corp, when filing the 1120 for 2021, does it have to be marked as final since we will be doing the 1120-s the following year or no since the company continues to operate but just filing a different tax form. Thanks ahead of time for your input.
 

#2
Nilodop  
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18751
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21-Apr-2014 9:28am
Location:
Pennsylvania
No final return.
 

#3
JR1  
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6041
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21-Apr-2014 9:31am
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Western 'burbs of Chicago
No, as the professor said.

Important note: if you have some accumulated profits in the C, watch for good timing to declare some divs and eventually clear them out....right now, they're tax-favored...esp. in a year when income might be down for the shareholder.
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