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T
taxsolutions
Level 4
February 3, 2025
Solved

1120-S allocation percentage error

  • February 3, 2025
  • 1 reply
  • 5 views

I was getting an error on an 1120-S for incorrect allocation percentage. I had 51 and 49 shares for the two shareholders. Once I changed it to 510 and 490 the error went away. Am I missing some new S-corp requirement or is it a bug?

This topic has been closed for replies.
Best answer by tfoti

you are brilliant to have changed it to 510 and 490! so creative

1 reply

T
tfotiAnswer
Level 4
February 3, 2025

you are brilliant to have changed it to 510 and 490! so creative

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