Revoke C Corp election. Final form 1120?
Single member LLC elected to be taxed as C Corp at time of formation (yr 2002) Now wants to revoke election and be taxed as an LLC effective 01/01/2018 Do I check final return on Form 1120 for yr 2017?
Hey Sonia, according to the instructions for Form 1120 there are only 4 situations where you would want to check the Final Return box. I have included the link to the instructions below, you can go to page 9 and read Item E: https://www.irs.gov/pub/irs-pdf/i1120.pdf
Thank you for reading!