MIKE PETERSEN
Level 1

Please help.  I have an partnership with a 2% interest in a SCorp.  where do i enter it on the 1065?

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TaxGuyBill
Level 15

Maybe I'm misunderstanding your situation, but it seems like the corporation is now a C-corporation.

If a Partnership is a shareholder of the corporation, that invalidates that S-election.  A S-corporation can not have a Partnership as a shareholder.

If that is your situation, your client really needs to talk to whoever is doing the corporate return.

If I'm misunderstanding your situation, please give additional details.

MIKE PETERSEN
Level 1

Thanks for the response.  The client owns the stock personally they just filled out the information sheet incorrectly with the name of another entity.

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