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Change business entity

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Level 1
I have a new client that is changing his business entity from partnership to a S Corp after seven years of filling a 1065, Do I only need to file a 2553 to change tax entity from partnership to S corp for the new tax year?
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Level 15

Yes. But you're late if this was supposed to be for 2019. (But there are procedures for late elections)


ex-AllStar
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