Form 1120-S: How to Amend

Before amending any return, save a copy of the original return to paper or PDF for reference purposes as the original form will be changed as a result of the amending process.

Form 1120-S doesn't have a separate form for the purpose of amending. Rather, it has a check box at the top of the form indicating it has been amended.

To amend Form 1120-S in TaxSlayer Pro, follow these steps:

1. Open the return and correct it as needed. Keep track of the line number(s) changed and the reason(s) for the change for the next step.
2. From the Main Menu of the return select:
   • Heading Information
   • Other Categories
   • Amended Return - Answer YES to the question to confirm that you are amending.
3. For each change you made, select New, then enter four bits of info:
   • The line number changed (digits only, no letters);
   • A brief description (50 characters max);
   • The amount on the line in the previously filed return;
   • The amount on the line in this return.
   After clicking Ok, enter more information if needed in the Description window.
   Repeat the above steps for each line number that you changed.
4. If the Schedule(s) K-1 changed as a result of amending the return, be sure to open each K-1 and click Amended K-1?, changing from No to Yes.

If the Schedule(s) K-1 were amended, be sure to send a copy to each shareholder.

When you print the return, there will be an X in the Amended Return check box in the Form 1120-S heading (and in the Schedule K-1 heading if they were also amended) indicating that the return has been amended.

Note: The amended Form 1120-S return can be electronically filed.