New (tax) year, new help!

Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.

Question

When will Form 2553 print separately from the tax return?

Answer

If Form 2553 was not filed on time, and you want to print the form separately from the Form 1120S, enter code 2 in the File Form 2553 as an attachment to Form 1120S field in Screen 2553. You also need to enter a date in the Election to be effective for tax years beginning field and a reason the form was filed late in the Reason for failing to file election by due date field in Screen 2553. UltraTax CS prints the reason the form was filed late at the bottom of Form 2553, Page 1. Form 2553 and the filing instructions will print separately from the main tax return.

Related topic: 1120-US: Form 2553 - Small business election FAQs

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