ProConnect HelpIntuit HelpIntuit

How do I amend a Federal or State return for an S-Corporation (Form 1120S)?

by Intuit Updated 2 months ago

To amend the S-corporate return:

  1. Open ProSeries to the HomeBase.
  2. From the File menu, select Client File Maintenance, then Copy/Backup to backup up the original return.
    • If you need assistance with this part, more information is available here.
    • You'll need to use the original when preparing the amended return.
  3. Open the original return.
  4. On Form 1120S, p1-2, check box H(4) to indicate an amended return.
  5. Make the necessary changes to the return.
  6. If Schedule K-1(s) result in a change, go to the Schedule K-1(s) and check Amended K-1 (see Schedule K-1 information below).
  7. Attach a statement that identifies the line number of each amended item, the corrected amount, or treatment of the item, and an explanation of the reasons for each change. This statement should be mailed with the amended return.
  8. Save the return.
  9. If you'll be mailing the amended return, print and mail it to the service center where the original return was filed.
  10. If you'll be electronically filing the amended Form 1120S return, follow the instructions on the here.

Other considerations:

If the amended return results in a change to income or the distribution of income or other information provided to a shareholder, an amended Schedule K-1 must also be filed and given to the shareholder. Ensure the Amended K-1 box is checked on each Schedule K-1 to indicate that it is amended.

Amendments to the federal return may affect the state return. To amend the state return:

  1. Complete the amended federal return, then go to the state return. ProSeries will transfer the updated federal information to the state.
  2. Make any necessary state adjustments.
  3. Check the Tax Help and Government Instructions, or contact the state taxing agency for detailed information on amending the state return. To indicate an amended return, you may have to check a box on the main form or write Amended at the top of the form. You may also need to attach a statement of changes made to the return. (The originally filed state return is still attached to the original federal return in the original file.)
ProSeries Professional

Sign in now for personalized help

Ask questions, get answers, and join our large community of Intuit Accountants users.

Dynamic AdsDynamic Ads