Solved: Explanation of Change Exmaples
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srobinsonTaxQuest
Level 1

Explanation of Change Exmaples

I am amending my 1120S and an Explanation of Change form is required.  Where can I find examples of this form?  Does Turbo Tax Business support this form?

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tagteam
Level 15

Explanation of Change Exmaples

Yes. You can add the statement by entering Forms Mode, clicking Open Form, and then scrolling down and opening the Miscellaneous Statement form.

 

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3 Replies
tagteam
Level 15

Explanation of Change Exmaples

You are not going to get a lot of guidance from the program in this regard and there is no actual "change form" in the program. The program will check the Amended return box on your 1120-S and K-1(s), however.

 

The best you can do is to enter the changes (after saving your original return under a different filename) and then use the Miscellaneous Statement form and enter line number (and Schedule, if necessary) along with the reason for the change and the amount.

srobinsonTaxQuest
Level 1

Explanation of Change Exmaples

Thank you tagteam for the answer.  Is there a way to add a Miscellaneous Statement form in TurboTax Business?

tagteam
Level 15

Explanation of Change Exmaples

Yes. You can add the statement by entering Forms Mode, clicking Open Form, and then scrolling down and opening the Miscellaneous Statement form.

 

1.png

 

 

 

View solution in original post

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