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Level 2
July 15, 2022
Question

Can convert a 1120 to 1120S that has been filed already. What steps do I need to do to convert that return?

  • July 15, 2022
  • 1 reply
  • 8 views
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1 reply

George4Tacks
Level 15
July 17, 2022

Are you saying the 1120 has already been filed and it should have been a 1120S? You now want to convert that 1120 file to a 1120S file, so it can be filed correctly? 

Answers are easy. Questions are hard!
Level 2
August 6, 2022

Yes, I do not want to redo the return, I am familiar with Ultratax which allows to convert the information into the correct entity.

Can this be done on this software.

 

Sorry for the late response.

 

George4Tacks
Level 15
August 6, 2022

Here is an old discussion that basically says NO. Since they are two quite different file structures, the conversion is sloppy at best. Probably easiest to bite the bullet and just repeat the input fresh. https://proconnect.intuit.com/community/proconnect-tax-discussions/discussion/how-can-i-convert-a-c-corporation-proforma-to-an-s-corporation/00/117811

 

Answers are easy. Questions are hard!