I need to amend my 2019 1120S, the box asking whether QBI was SSTB was inadvertently checked and I didn't notice until after it was electronically filed. I tried to follow TurboTax instructions but they are very unclear. Thanks.
To amend your 2019 Form 1120S prepared in TurboTax Business, Go to Federal Taxes>>Other. Don't make any changes to what you originally filed until the amendment process has started. Continue through the screens, without making any changes, until you reach the "Amended Return" screen. Select the Yes and TurboTax will guide you from there.
Here is a picture of the screen you want:
Thank you, I have done that, but it doesn't let me e-file the return. Message says the returns have already been e-filed.
You cannot efile an amended return. You can only print and mail.
the IRS requires a statement to be attached outlining any changes.
TurboTax does this for Individuals, but I can not find how to get to it for 1120-S
Is there a way?
N0 - You will have to prepare a separate statement for the amended 1120-S return and attached it to the return.
For an amended individual return, there is separate form--1040X--which has a section for an explanation. The form for an amended 1120-S is the same form as the original return. The preparer just marks the Amended return box in Section H. So there is no section for an explanation.