Follow these steps to amend an S Corporation return.
Before amending a return, you may want to maintain a record of the original return by copying the client.
Go to the AmendS screen in the Separate Filings folder.
in the
If you prepared the original return in UltraTax CS, add a reason for the amended return in the statement window for the
Explanation of changes
Make the necessary changes in the input screens for the amended return. UltraTax CS marks the
Amended return
checkbox on the 1120S return, Page 1, and the
Amended K-1
checkbox on Schedule K-1, Page 1, then prints a statement for the reason for the amended return.
Select the state from the
Transfer state(s)?
window if you're also amending the state return.
If you don't complete the fields in the Amounts As Previously Reported section after you enter
in the
field, you need to preview the return before proceeding. Clear the
field and select
, then
. Once you finish previewing the return, close the print preview and enter
in the
field to transfer the information.