I have personal accounts and I have business banking accounts. My corporation is an S corporation. Is it only five years? I've filed all my business income on my personal taxes via schedule c over the past five years. Can I continue? Thanks.
How many years can I file a schedule c for federal taxes?
as many as you need.
Reply:You can (must) file a Schedule C as long as you are self-employed. Your S corporation should be filing its own 1120S, and reporting income/losses to you through a K-1.
Reply:The 5 year rule is only if you have a business that has a loss for 5 years. If you show a profit, you can continue to use Schedule C.
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