Welcome back! Ask questions, get answers, and join our large community of tax professionals.

Convert Partnership to S-Corp

cancel
Showing results for 
Search instead for 
Did you mean: 

Convert Partnership to S-Corp

SusanA

Please allow Partnership clients to be converted to S-corporations.  Thank you.

Status: New
Vote now if this is a good idea
3 Comments
calebljenkins
Level 2

The same idea would be true for converting C-Corporations to S-Corporations and vice-versa.

This would have some big programming issues in the areas of shareholder basis, BIG tax, and undistributed AAA accounts, however, these areas could be flagged so that we would have to finish that before the "conversion/proforma" is complete.

sjrcpa
Level 15

@calebljenkins You can transfer S Corp to C Corp and vice versa in Lacerte.

Adam Hodson CPA
Level 1

How about just adding an option to export all depreciable assets from one file to another.  And maybe something similar to export partners from one company to another.

Post comment