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Using the H and R block software how do I do a tax return for a S corp?
No matter what I do it keeps thinking I want to do a personal tax return.
But it is for class and that is the software the professor said to use.
Thanks Fred turns out I just ran the wrong program and that is why I could not get it.
4 Answers
- FredLv 51 decade agoFavorite Answer
BECAUSE IT'S THE SOFTWARE FOR THE PERSONAL RETURN!!!!
Corporate filing is different from the personal return and requires a different program (or module). They are not going to post this on the internet. Since corporate filings can be complicated, there is no way they can create a questionnaire based program for it.
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"that is the software the professor said to use"
You have to purchase the BUSINESS version at a retail store. The ONLINE is for PERSONAL only.
- Anonymous1 decade ago
1. Does the software even support doing an 1120-S? In all likelihood, you have software that supports only a 1040 with income coming from an 1120-S schedule k-1. You are looking for software to generate an 1120S and the schedule k-1s.
Turbotax does sell the softare, but you need the $150 version "Turbotax Business" in addition to whatever you are using to do your 1040. The two packages are sold separately.
http://turbotax.intuit.com/small-business-taxes/
2. The 1120-S was due 3/15. It's now two months late. Attach a letter when you file to explain why it's late. There is a $195/per month/per shareholder penalty.
- 1 decade ago
Word of caution here:
Unless you are a tax professional, don't do it. Hire a tax professional. Even with the correct software.
- ObamavengerLv 71 decade ago
You don't. You buy professional software that costs over $1,000 if you want to do your own.