llc with mid-year s-corp election change IRS granted me s-corp election for 2015 tax year on Aug 2015.
I got payroll setup and paid myself payroll Sept-Dec of 2015
My client sent me a 1099-misc for all the income for 2015.
Do i break it down and report income from Jan-Aug as an LLC/Sole Propiertship on 1099-misc section? and income from months Sept-Dec on Schedule K1 and enter my W2 pay information as income?
I am a little confused on how to report the incomes due to the mid-year election change and payroll starting in Sept 2015.
Details:
1099-misc received for 180,000
income jan-aug: 110,000
income sept-dec: 70,000 |