cl2019 Posted January 27, 2020 Report Posted January 27, 2020 Can anyone let me know if I add form 3115 to 1120s, will the 481(a) adjustments of income amount flow to 1120s page 1? I tested it and it seems the number does not flow. Just want to get confirmation from experienced atx max users in case there is any trick. Also, if not flow, I will need to manually input the 481(a) adjustments onto 1120s page one as other income, right? Thank you! Quote
EricF Posted January 27, 2020 Report Posted January 27, 2020 Using normal ATX, numbers do not flow from the 3115. You must input the 481(a) adjustment where it goes on the 1120S. It might be easy to program that for ATX, but when it comes to 1040s, where it goes depends on the activity the change relates to. Even in a business return, there may be more than one activity, and ATX wouldn't have any idea where to put the income or deduction. 3 Quote
Lynn EA USTCP in Louisiana Posted January 27, 2020 Report Posted January 27, 2020 I always add it as a separate line item on 'other expenses'. 481(a) adjustment, $xxxx.xx if expense, or as a separate line item in 'other income' 481(a) adjustment +$xxxx.xx if income 5 Quote
cl2019 Posted January 28, 2020 Author Report Posted January 28, 2020 Thank you all for the help! Quote
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