What is the form used for?
- Use Form 1120-S to report the income, gains, losses, deductions, credits, etc., of a domestic corporation or other entity for any tax year covered by an election to be an S corporation.
Is the form Supported in our program? The Form 1120S is only supported by our desktop software.
How to access the form: While in a return, use the Add Form function to add a new 1120S form to the return.
Limits to the form: This form is only available in the S-corp package.
IRS Publication: https://www.irs.gov/forms-pubs/about-form-1120-s