Use the following steps to enter shareholder information needed for Form 2553 for a C Corporation electing S Corporation status.
- Choose File > Open Client to open desired the C Corporation.
- Click the Elections folder in the folders block.
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Click the 2553 tab, and 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.
- Click the Shareholder Info button in Screen 2553.
- Enter the shareholder's name, address, and SSN / EIN in the Shareholder tab.
- Click the 2553 tab.
- Enter the appropriate information to complete the shareholder consent.
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