Shelly Wins
Level 1

I have a problem on the opposite end of the spectrum. I setup LLC and filed for EIN and S Corp status Jan 2018 and continued to operate as a Schedule C business (no payroll setup.) Now I've done through 2018 and 2019 like this. I did file timely extensions for both the 1120s and 1040 for each year and paid sufficient amounts to cover taxes. However I don't know how to file now. I didn't pay myself wages and honestly didn't make enough in 2019 to do so even if I wanted to.  Total GROSS revenue 35k in 2018 and 12k in 2019. Expenses between 9-12k annually. I was going to ramp up the business but life took a turn. It is the only income that I make. How would you recommend I file at this point. Someone said to just put it on Sch C like I always did. However, that s Corp election is still out there. Thank you.

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