Entering information for Form 2553 for a new S Corporation

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Use the following steps to enter shareholder information for Form 2553, Election by a Small Business Corporation.

  1. Choose File > Open Client to open the desired S Corporation client.
  2. Choose View > Shareholder Information.
  3. Click the 2553 tab.
  4. Enter the appropriate information to complete the shareholder consent.
  5. Click the Done button.
  6. Click the Elections folder in the folders block, and click the 2553 tab.
  7. Enter the appropriate information to complete Form 2553, Election by a Small Business Corporation.

    Note: You must complete the Election to be effective for tax years beginning field to print Form 2553.

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