1120S Line 7 error

[RSTECH]

Hello,

TurboTax entered $19,115 on line 7 from QuickBooks, which is a correct amount.

Unfortunately we're unable to e-file 1120S because TT is telling us to fill out form 1125-E.

Top of form 1125-E has a Note: Complete Form 1125-E only if total receipts are $500,000 or more.

Please help.

[Anonymous_]

You probably need to review the entries in the Business Info tab of the program as the QuickBooks import must have triggered the necessity to complete Form 1125-E.

[RSTECH]

We checked the Business Info and do not see anything out of the ordinary.  Wonder if by "Total Receipts" they might be referring to Total Revenue for the company?

[Anonymous_ · Accepted solution]

Review the definition at the link below.

https://www.irs.gov/instructions/i1125e#idm140008514373824