sp1995
Returning Member

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.