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I filed 1120 for my corporate for 2016, I can not find a
I filed 1120 for my corporate for 2016, I can not find a copy of it and my computer crashed, how can I get a copy of it? … read more
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I have an s-corp with distributions in excess of AAA, they
I have an s-corp with distributions in excess of AAA, they do have prior c-corp retained earnings, which will result in a taxable dividend for that portion of the distribution. How is this reported on… read more
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I am trying to reconcile info on an S Corp balance sheet and
I am trying to reconcile info on an S Corp balance sheet and a S Corp Tax return. The balance sheet shows larger distributions (and retained earnings) than the tax return. I'm wondering if the differe… read more
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Question on 1120s schedule L retained earnings not tying out
Question on 1120s schedule L retained earnings not tying out (discrepancy shown on Sch m-2 retained earnings worksheet). Is this something that you can help with? … read more
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Negative m2 balance in last year of s corp is identical to
negative m2 balance in last year of s corp is identical to loan from sharehodler loan. company had losses, zero shareholder distributions. how to report on the m2? I feel the ending RE should be zero … read more
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The question is to the left of this box. 2015 final year of
The question is to the left of this box. 2015 final year of C corp. C corp has negative retained earnings of 27400. On 1/1/16, the C corp becomes an S corp. Where does the negative 27400 go on the M-2… read more
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I have an S corp question....I have just received from a
I have an S corp question....I have just received from a potential client a copy of his S corp 1120S. With regards ***** ***** 4 schedule L line 24 and page 5 Schedule M-2 line 8.....These numbers hav… read more
Mark Taylor
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I am working on an S-Corp return and need some help. It is
I am working on an S-Corp return and need some help. It is for a retail store that closed the physical location but continuing with an online store. The schedule L was in balance for 2014 but it is of… read more
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On my 1120S, My schedule L, line 24 ties in perfectly with
On my 1120S, My schedule L, line 24 ties in perfectly with my Balance Sheet, however my Schedule M-2 Line 8 is off by the previous years 179 expenses disallowed that it allowed this year which is incl… read more
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This question involves C corporation Cash Distributions,
This question involves C corporation Cash Distributions, form 1099 Div and Form 5452. A very good knowledge in these areas are required to answer these questions. I have a Delaware C-Corp which I have… read more
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Line 27 of Schedule L is out of balance to Assets by exactly
Line 27 of Schedule L is out of balance to Assets by exactly income. Where should income be included? … read more
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Our company, treated as S-corp for tax purposes for many years,
Our company, treated as S-corp for tax purposes for many years, reverted to C-Corp (termination effective 10/8/13), and now must file 2 short year tax returns for 2013 . On 10/7/13, our balance sheet,… read more
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TAXMANROG CPA ONLY S-Corporation 1120S Schedule M-2 (a)
TAXMANROG CPA ONLY S-Corporation 1120S Schedule M-2 (a) Accumulated Adjustments Account column Questions 1. What does the Balance at end of tax year represent and what is this column supposed to tell … read more
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When I convert from S-Corp to C, can I keep existing EIN?
When I convert from S-corporation to C-corporation can I keep my existing EIN number for the S-corporation? Also, do I have to dissolve the S-corp when it is converted to a C-corporation? If so, how c… read more
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In 2011 my S Corp paid $8.45 in penalties and interest for
In 2011 my S Corp paid $8.45 in penalties and interest for a late local tax payment. I understand this is a non-deductible expense, so it's reported on 1120S Schedule K line 16c Non-deductible expense… read more
Jax Tax
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On a final 1120-S tax return, the Retained Earnings and Line
On a final 1120-S tax return, the Retained Earnings and Line 8 of Schedule M-2 show nwgative balances of 30,000. There is an asset distribution to the shareholder of $25,000. The distribution was reco… read more
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My question is under a voluntary dissolution of a C corporation
My question is under a voluntary dissolution of a 'C' corporation, where after selling all assets and after satifying all liabilities, there is no cash or no other assets. Total Assets are $0.00. Ther… read more
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How do you balance an 1120S form and schedule an M2?
Accounting - IRS Form 1120 S - M2 on page 4. Domestic Production Deduction. It seems logical that I must reduce balance by amount of deduction, but is it? How do I balance to Retained Earnings line 24… read more
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