1120-US: Amending a C Corporation return (FAQ)

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To amend an 1120-US C Corporation return:

  1. Open Screen Amend in the Separate Filings folder and select the Transfer original information checkbox if the original return was prepared in UltraTax CS.
  2. UltraTax CS automatically fills in the amounts from the return as originally filed.
  3. If the original return was not prepared in UltraTax CS, enter amounts from the return as originally filed.

UltraTax CS uses these amounts to:

  • Complete Form 1120X, Column A, As originally reported or previously adjusted.
  • Automatically calculates Column C, Correct amount, based on the current and active client data.
  • If a field in this section is blank, the amount in Column A will default to the amount in Column C.

Notes

If you are also amending a state return:
  • Select the applicable state from the Transfer state dialog.
  • If the fields in the Amounts As Previously Reported section are not completed after you've selected the Transfer original information checkbox, you need to preview the return before proceeding.
    • Clear the Transfer original information checkbox and select Preview under the File menu.
    • Once you finish previewing the return, close the print preview.
    • Select the Transfer original information field to transfer the information.

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