Can you convert a 1065 client to a 1120S client?

Forum|Forum|6 years ago
December 7, 2019
2 replies
17 views

Some tax apps allow you to convert an existing partnership client to an S-Corp or vice versa? Is this possible in Lacerte? For instance, turning a 1065 in 2018 into a 1120S for 2018 without having to re-key all the figures and demographic info?

Lacerte Tax

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Best answer by sjrcpa

Technically, no.

If you are familiar with the data files you can copy the 1065b one and paste into 1120S to eliminate some work, but it alo could be a mess.

sjrcpaAnswer

Level 15

Technically, no.

If you are familiar with the data files you can copy the 1065b one and paste into 1120S to eliminate some work, but it alo could be a mess.

The more I know the more I don’t know.

George4Tacks

Level 15

Not officially, but it can sort of be done. https://accountants-community.intuit.com/questions/1697459-i-have-a-2016-partnership-return-that-converted-to-an-s-corporation-for-2017-is-there-a-conversion-option-so-that-i-don-t-need-to-enter-the-information-manually?jump_to=similar-questions

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