Filing personal with 1099s versus business s-corp?

Question

From 2007-2010 my accountant filed taxes for my business using Form-1120S for an S-CORP - however, due to the economy, the industry, and personal issues I began taking short-term W2/salary positions in 2011 to present, having decreased income from any 1099 contracting work.

Unfortunately the accountant isn't currently available and I'm trying to file (we have an extension). I'm trying to understand if I can file my W2 work on a 1040 (through TurboTax) and simply list what 1099 work I do have that way, or am I required to file them with an 1120S, etc?

I need to file something for the business anyway, so I'm likely going to have to try file the 1120 and 1040 myself no matter what, it's just more difficult.

Answer 1

Depends whom the 1099 was issued to. If it was issued to your corporation - then its your corporation's income, not yours. Why would it go to your tax return? Your corporation and you are two separate legal entities.

You will have to file the 1120S, whether you have corporate income or not, it has to be filed each year. So why make a mess of your reporting and not just report the corporation income on its return and your personal income on your own return?

If you no longer use the corporation and all the 1099's are issued to you personally, then just dissolve it so that you won't have to file an empty 1120S every year and pay additional fees for maintaining it.