Question

1120S ertc amended returns

Forum|Forum|2 years ago
February 17, 2024
1 reply
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How do I amend my previous 1120s returns to reflect ERTC refund? Specifically what fields need amending? Just the payroll tax amount? Can I just pull up the previous TT app year and copy then edit the return and resubmit via TT? Are there additional forms that need to be submitted with the 1120S?

Do I also need to submit amended state business forms?

There must be a whole category of ERTC questions in the forum somewhere.

TurboTax Business Windows

R

RobertB4444

Just open the year in question and click 'Amend this return' at the bottom. Adjust the payroll tax amounts to reflect the credit that you received and then submit the return. Depending on the year you may have to mail in the completed return.

This will make a change to the previously submitted K1s that were distributed to the shareholders. You will need to distribute amended K1s to everyone and they will need to amend their personal returns to reflect the changes.

@Countingcat

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