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Business & farm
MASSIVE M-Mtax!
I finally understand what you were trying to say all along. Yes, income tax return (1120-S) is not considered an information return and falls out of that regulation scope. One more question for you (obviously Level 12 for a reason).
Almost any change to 1120-S that is worth amending will change some reportable items (such as profit, etc.). This will trigger an updated Schedule K-1. I believe at this time that Schedule K-1 is an information return that would have been filed electronically, hence would have to be amended by e-filing, no?
Very much appreciate your dropping knowledge. I have a simple goal of filing my tax return. Not claiming to be an expert.
March 22, 2025
11:25 AM