What is the form used for? :
The parent corporation of an affiliated group files Form 851 with its consolidated income tax return to:
- Identify the common parent corporation and each member of the affiliated group.
- Report the amount of overpayment credits, estimated tax payments, and tax deposits attributable to each corporation.
- Determine that each subsidiary corporation qualifies as a member of the affiliated group.
Is the form Supported in our program? Yes
How to access the form: To access the form, you will need to open an 1120 return on the desktop and then go to Add Form/Display and type 851.
Limits to the form: There is only a business variant of this form, and it can only be accessed from the desktop software. This form cannot be copied.
IRS Publication: https://www.irs.gov/forms-pubs/about-form-851
