1120-US: Form 2553 not printing with the Form 1120S return (FAQ)

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Question

Why isn't Form 2553 printing with the Form 1120S return?

Answer

If Form 2553 was not filed on time, you can choose to have the form print as an attachment to the current-year Form 1120S, or to file the form separately. UltraTax/1120 collates Form 2553 with Form 1120S and other tax forms when you enter code 1 or leave the File Form 2553 as an attachment to Form 1120S field blank in Screen 2553.

You must also enter a date in the Election to be effective for tax years beginning field and the reason the form was filed late in the Reason for failing to file election by due date field in Screen 2553. The reason the form was filed late will print at the bottom of Form 2553, Page 1.

If you are printing Form 2553 with Form 1120S, the form must be signed when the tax return is filed electronically. For more information, see Attaching Portable Document Format (PDF) files to electronic files.

Form 2553 will also not print if there is a foreign address entered on Screen 1120 in the General folder. Only a domestic corporation or entity is eligible to elect to be treated as an S corporation.

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

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