C Corp to S Corp

[DaveinTexas]

A client made the 2553 election in Feb. 06 for his C Corp to be taxed as a S Corp.

Does this create a short year for the C Corp as well as the S Corp? Meaning: Will he need to file a 1120 and 1120S for 2006?

TIA

[outwest]

Generally..

the s corp election is made effective 1/1. This is okay as long as filed before 3/15 of the year.

Check the acceptance letter, but most likely you are only filing a 1120s.

Doug