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Example: In 2000, David's Toy, Inc., a Nevada S corporation, opens an office in California. Since the S corporation is doing business in both Nevada and California, it must file Form 100S (California S Corporation Franchise or Income Tax Return) and use Schedule R to apportion income between the two states.
If your business is a sole proprietorship, you need to file Schedule C, Profit or Loss From Business, along with your federal 1040 tax return.Prepare, print and e-file your federal 1040 return and Schedule C for free with TaxACT Free Federal Edition.tart Free Federal 1040 Now. If you filed Form 2553, Election by a Small Business Corporation, your business is an S Corporation. TaxACT Business 1120S includes all the guidance and forms you need to prepare, print and e-file your S Corporation 1120 federal return.