Intro to 1120
When is the 1120 return due?
April 15th OR 15th day of 4 month after end date
Where are state payments entered?
Federal worksheets> Payments/Penalties/Estimates> Payments> State payments
Where do I go to generate the extension form 7004?
EXT-1 line 30 OR Interview form 1 line 73
What is another term for Section 168(k)?
Bonus (Bonus depreciation)
When can a superceded return be filed?
Before the original due date
What is needed to recalculate and generate an 1120 in the software?
EIN (Employer Identification Number)
Where is the worksheet view input for 1120, page 1, line 16?
Income/Deductions > Business > Deductions > Rents
Where is worksheet: General> Return options> calculation options> line 3 in Interview forms?
Interview Form 2 line 82
How do I find the "landscape report"?
Government forms> 4562>(federal/state/book)>entity detail> "Other
Depreciation and Amortization Detail"
Where can I mark an 1120 return as amended?
Interview form X-1 line 30 OR Other> 1120X - Amended Returns
Why would a customer not be able to delete a state?
It is the home state (entered on basic data line 1 or Interview form 1 line 30)
Where do I lock depreciation calculation?
General> Depreciation Overrides> line 18
The cost of labor is incorrect on the 1125-A. Where can I edit this amount?
Interview Form A-2 line 35 (Form A-2 Boxes 40 and 45 OR Form A-2 Box 202 if Box 201 contains a code ‘L’ or ‘C’ OR Form P-2 – Form 8846 if Credit Reduction applies)
What is a main reason bonus depreciation is not generating in the return?
Not a current year asset - the date in service needs to be within the dates of the tax return
Why would my letters only show Federal letters and not any states included in my return?
The states are not labeled amended
Where does the amount on Form 1120 page 1 line 8 come from?
Schedule D
If the form 1120 line 17 is showing duplicate amounts, where can I go to fix this?
General> return options> section 1> line 42
Where do I generate the form 8990?
Interview Form BIE-1 line 30
Why would my sale flow to the Sch D instead of the 4797?
Property Type is CAP
What can we do to help a customer with upload error: "We cannot upload this return, as an Amended/superseded return has already been uploaded. Another Amended/superseded return would have to be filed."
Confirm in ELF best that the original return has not been filed for the tax year in question. If the original return has not been filed and they have received the error for the amended/superseded return then they will need to be provided the upload override code in order to file the original return.
Why would extension form 7004 not be generating for a fiscal filer?
The extension needs to be unlocked in the federal extension > line 17 and 18
Where can I look to see if a return is consolidated?
General> basic data> lines 47-50 OR Return groups tab is available
Where can I go to enter application overpayment code for states?
common state> St Pay/Est> STEST-1 line 40
What can be done if a partial disposition is incorrect?
The new asset must be deleted, and the original asset restored to its original amounts.
What is the first step when creating an amended return that is highly recommended?
Create a new version of the return