Previously filed as LLC
Filed 1120S with 2553 for late election of my LLC to Scorp for 2008 on 3/5/09.
Transferred LLC equipment/assets to SCorp using info from 4562 for LLC - including two vehicles used over 50% for business. I took 179, 75% business use for new vehicle and depreciation for other. The K-1 shows the 179 deduction on line 11.
Awaiting IRS decision on SCorp status for 2008 - but I want to be an SCorp for 2009 because i will be eligible for domestic production credits
It looks like I probably shouldn't have claimed vehicles for S Corp -
Do I need to change, amend? any help appreciated.