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Entered the distribution on page 5. Error message tells be I can't mark form for excessive investment interest because on 1120-S,Page 5, M-2 Line 8, col.c shows as a c-corp. This has z
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Hello Acct1981. If the S corp has never been a C corporation, you do not need to complete the Excess Net Passive Income Tax Statement, which is where I believe you are seeing this error.
Thanks
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@Acct1981 I have never had an issue in the past with distributions for S corporations... Are you sure you are entering it in the correct location?
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I think so. I entered the distribution on the 1120S, page 4, A (Shareholders Distributions & Dividends Smart Worksheet. Thanks for your reply.
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Hello Acct1981. If the S corp has never been a C corporation, you do not need to complete the Excess Net Passive Income Tax Statement, which is where I believe you are seeing this error.
Thanks
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Thanks for your help, that is the problem.