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Form 8832 - Changing Election

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mathgirl

New member
I started a corporation in GA this spring and filed a 2553 to elect to be taxed as an S corporation. This December (so within the same calendor year), I changed the business with the state to an LLC taxed as a sole proprioritor, as I had not realized the corporate tax filings requirements when I chose that business type. I am trying to file a form 8832 to change my election with the IRS, but have some questions.

- Do I select a Late classification relief under Revenue Procedure 2009-41? It's confusing in the instructions.

- What date do I make it effective? The date the corporation changed to the LLC with the state? But when I file my yearly return, will that allow me to file as the whole year as an LLC? I really don't want to try to file both types.

- My husband was an officer of the corporation, but he is not part of the LLC (we just put it in my name so as to elect the sole proprietorship option). Does he need to sign the 8832?

Thank you for any guidance you can offer!
 


Taxing Matters

Overtaxed Member
I started a corporation in GA this spring and filed a 2553 to elect to be taxed as an S corporation. This December (so within the same calendor year), I changed the business with the state to an LLC taxed as a sole proprioritor, as I had not realized the corporate tax filings requirements when I chose that business type. I am trying to file a form 8832 to change my election with the IRS, but have some questions.
What do you mean that you "changed" the type of entity with the state? What exactly did you do? The details here are incredibly important. Also, has this business started operation yet? Does it have any assets or liabilities?
 

mathgirl

New member
I filed a certificate of conversion with the state of GA converting the domestic profit corporation to a domestic limited liability company. It was accepted as of 12/19/19. Yes, the business started operations in March, but no salaries were distributed (I am the only one working at it, and only a few hours a month, so I didn't take a salary as I was trying to sort this all out). Yes, it has assets and liabilities.
 

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