1120S Schedule M-2

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

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

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