Scorp amended

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  • Taxadvisor VA
    Senior Member
    • Feb 2013
    • 122

    #1

    Scorp amended

    Basis adjustment error has necessitated an Amended 1120S.
    What would you send in with the return?
    * Amended basis adjustment.
    * K1 amended.
    * With some of the current year loss now being suspended- what if any additional information would you recommend being sent in?

    Thanks,

    Taxadvisor VA
  • veritas
    Senior Member
    • Dec 2005
    • 3290

    #2
    Basis is tracked

    Originally posted by Taxadvisor VA
    Basis adjustment error has necessitated an Amended 1120S.
    What would you send in with the return?
    * Amended basis adjustment.
    * K1 amended.
    * With some of the current year loss now being suspended- what if any additional information would you recommend being sent in?

    Thanks,

    Taxadvisor VA
    At the shareholder level so what would you report on the corporate return?

    Comment

    • JohnH
      Senior Member
      • Apr 2007
      • 5339

      #3
      I'd send them exactly what they require - amended 1120S with Amended K-1.
      Send nothing more and nothing less.
      "The only function of economic forecasting is to make astrology look respectful" - John Kenneth Galbraith

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