2772120
Hello,
The first question on Schedule B of 1120S mentions the accounting method (accrual, cash, other). Is this based off of your books or is it asking what method to use when paying tax? If my books are accrual and I want to be a cash basis taxpayer do I mark accrual for that question and convert to cash as an adjustment on the return?
Thanks
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See https://www.irs.gov/publications/p538#en_US_202112_publink1000270638
See https://www.irs.gov/publications/p538#en_US_202112_publink1000270638
you check the box for the accounting method used to determine taxable income/loss on page 1 of the return
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