1120-US: Include C Corporations that are Qualified Subchapter S Subsidiaries in S Corporation Consolidated Groups (FAQ)

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Question

How can I include a C Corporation that is a Qualified Subchapter S Subsidiary in the S Corporation Consolidated Group?

Answer

If you have a C Corporation that is a Qualified Subchapter S Subsidiary (QSSS), you will need to clone the client and change it to an S Corporation in File > Client Properties. You will also need to complete the screens applicable to the S Corporation. (For example, Screens K, Ms, M3S, etc.)

Only S Corporations are included in the list of corporations available to include in the S Corporation Consolidated client.

Related topic: 1120-US: S Corporation Consolidated return preparation FAQs

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