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Level 2
posted Apr 13, 2021 4:13:10 AM

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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1 Best answer
Level 15
Apr 17, 2021 10:20:21 AM

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

 

 

 

 

3 Replies
Level 15
Apr 13, 2021 7:23:42 AM

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.

Level 2
Apr 17, 2021 9:47:21 AM

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

Level 15
Apr 17, 2021 10:20:21 AM

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