1120S Schedule M-2


J

jeff_wisnia

What item amounts go into line Number 7 on the Form 1120S Schedule M-2
called "Distributions other than dividend distributions", for a small
Sub-S corporation with a sole owner.

Thanks,

Jeff
 
Ad

Advertisements

E

EAgent

What item amounts go into line Number 7 on the Form 1120S Schedule M-2
called "Distributions other than dividend distributions", for a small
Sub-S corporation with a sole owner.

Thanks,

Jeff
Generally these are distributions of profit paid to the owners.

Gene E. Utterback, EA, RFC, ABA
 
J

jeff_wisnia

EAgent said:
Generally these are distributions of profit paid to the owners.

Gene E. Utterback, EA, RFC, ABA
Thanks Gene..

And today I find that the 2011 1120S needs a form 1125A included with it
(Something new this year), but that form isn't yet downloadable from
IRS, only a "Draft Copy" seems to exist, which I guess I'll just go
ahead and use. What next?

Jeff
 
G

Gene E. Utterback, EA, ABA

"jeff_wisnia" wrote in message
Generally these are distributions of profit paid to the owners.

Gene E. Utterback, EA, RFC, ABA
Thanks Gene..

And today I find that the 2011 1120S needs a form 1125A included with it
(Something new this year), but that form isn't yet downloadable from
IRS, only a "Draft Copy" seems to exist, which I guess I'll just go
ahead and use. What next?

Jeff

It sounds like you're either new to this or not a tax pro - I've surmised
this from what seems to be your willingness to use a form that is NOT final.
An experienced tax pro would know that you should wait for the IRS to issue
the final form - it isn't necessarily required, but doing so cuts down on a
lot of issues and correspondence. In either case, I'd recommend you get
local professional help from a local Enrolled Agent. Go to www.naea.org and
search for an EA in your area.

Good luck,
Gene E. Utterback, EA, RFC, ABA
 
Ad

Advertisements

J

jeff_wisnia

"jeff_wisnia" wrote in message

Thanks Gene..

And today I find that the 2011 1120S needs a form 1125A included with it
(Something new this year), but that form isn't yet downloadable from
IRS, only a "Draft Copy" seems to exist, which I guess I'll just go
ahead and use. What next?

Jeff

It sounds like you're either new to this or not a tax pro - I've
surmised this from what seems to be your willingness to use a form that
is NOT final. An experienced tax pro would know that you should wait for
the IRS to issue the final form - it isn't necessarily required, but
doing so cuts down on a lot of issues and correspondence. In either
case, I'd recommend you get local professional help from a local
Enrolled Agent. Go to www.naea.org and search for an EA in your area.

Good luck,
Gene E. Utterback, EA, RFC, ABA

I appreciate what you're saying Gene, and I'm definitely not a tax pro,
so a few words of explanation here might set things straight.

I have a close friend who's a CPA and I do the 1120S and supporting
forms by hand and then ship them to him for a quick look see and an
electronic filing. He rarely finds that I've missed anything, so things
go smoothly.

Best Regards,

Jeff
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Similar Threads


Top