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How do I convert a Schedule C to an S-Corp in ProSeries? Lots of assets so hoping there is a way to convert!!

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Level 1
 
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Level 10

The only way I know to do it is via Fixed Asset Manager.  Then you're stuck with FAM for the rest of your life.  You'd export from Sch C to FAM.  Import from Sch C into FAM.  Manually change the asset linking to an S Corp for each asset.  Then export from FAM to S Corp.

Is there a high school nearby where you could find someone to do cheap data entry? 🙂

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Level 10

The only way I know to do it is via Fixed Asset Manager.  Then you're stuck with FAM for the rest of your life.  You'd export from Sch C to FAM.  Import from Sch C into FAM.  Manually change the asset linking to an S Corp for each asset.  Then export from FAM to S Corp.

Is there a high school nearby where you could find someone to do cheap data entry? 🙂

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Level 1
I will try that! Thanks!
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Level 15
Level 15

The 1040 and the 1120S are completely separate programs, you wont be able to move the asset list from one to another automatically.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Level 11
Level 11

I believe a bulk sale will do the trick for you. Try searching the database for bulk asset sales. 

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Level 10
But that won't get them into the S Corp module.
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Level 11
Level 11
Oh, I see. Sure, that is true. I thought they wanted to get assets out of Sch C.
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