1120-US: Second Form 2553 in form view (FAQ)

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Question

Why is there a second Form 2553 shown in form view?

Answer

If Form 2553 was filed on time, the form is filed separately. Form 2553 is also filed separately if the form is not timely filed and you choose to print it separately from Form 1120S. When you view Form 2553 in form view, notice the 2553 Sep folder. UltraTax/1120 completes this version of Form 2553 when the form is filed separately.

If Form 2553 was not filed on time, you can choose to print the form as an attachment to the current-year Form 1120S. When you view Form 2553 in form view, notice the 2553 folder. UltraTax/1120 completes this version of Form 2553 when the form is not filed on time, and you choose to print the form as an attachment to the current-year Form 1120S.

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

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