Loss Forward
Posted on Sunday, March 14th, 2010 at 7:36 am
Then the previous year's loss of C-Corporation may be made to S-corporation for the year?
I opened a C-Corporation in 2005, which a total net loss of $ 4,000. In January 2006, I changed from C-Corporation S-Corporation. My question is …. While doing my taxes S-corporation for the year 2006, then I see the loss of 4000 of $ 2005? I'm not sure if I can do that since 2005 the company was C and S. Please do not advise it. Thanks, Roberto.
Nope. The losses generated by retained earnings stay C of C is now carried on the books of S Corp.
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