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Level 1
December 7, 2019
Solved

How do I prepare a consolidated federal tax return for a Qualified Subcharter S Group of Subdidiares?

  • December 7, 2019
  • 1 reply
  • 11 views

Parent company is a Subcharter S Corp as well

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Best answer by sjrcpa

It is not really a consolidated return.

Using your trial balance software (or Excel but I hope not) consolidate the trial balances of all the S Corps - parent and QSUBs. The consolidated/combined amounts go on the 1120S.

1 reply

sjrcpa
sjrcpaAnswer
Level 15
December 7, 2019

It is not really a consolidated return.

Using your trial balance software (or Excel but I hope not) consolidate the trial balances of all the S Corps - parent and QSUBs. The consolidated/combined amounts go on the 1120S.

The more I know the more I don’t know.