Form 1120 is the only business return with a separate amended return. For all other entities, the corrected return data is entered directly on the original form. Before amending a return, save a copy of the original return to paper or PDF.
Amending the 1120S, 1065, 1041, or 990
From the Main Menu of the Business Tax Return select:
- Heading Information
- Other Categories or Other Information
- Select Amended Return, answer YES. You will be prompted to enter a description of the changes, if required.
- Exit and make any necessary changes in the return.
- When you print the return, there will be an X in the Amended Return check box
Amending the 1120:
From the Main Menu of the Tax Return (Form 1120) select:
- Miscellaneous
- 1120X – Amended Return
- You will see a message indicating “Changes MUST be made thru the 1120 Program”. Even though the 1120X Menu provides access to the various lines on the 1120X, it is advisable to make changes through the 1120 menus since changes made only in the 1120X menus do not reflect back to the 1120. Making changes to the original 1120 allows the software to do the calculating, rather than you having to do the calculations manually. Additionally, this amended return will become the new original return for potential future amended returns as well as provide the basis for information pulled into next year’s return.
- Form 1120X Menu
- Select the year being amended, and select OK
- Select Original Column, then OK
- Select Questions and answer any that need answering as appropriate
- Select Part II- Explanation of Changes – Enter a description of the changes that you are making to the original return
- Select Exit, then Exit again to return to the Miscellaneous menu
- Make any necessary changes to the return
- Again select Miscellaneous
- 1120X – Amended Return
- Form 1120X Menu
- Select the year being amended, and select OK
- Select Corrected Column, then OK
- Exit to Form 1120X Menu
- View/Print Form 1120X
After having completed the 1120X, if you wish to return to the 1120X menu without making any changes, when you arrive at the window headed “Select Column to Pull Current Data”, select Do Not Pull Data. This will leave the work you have done as it is.
Form 1120-X cannot be e-filed. File this form on paper with the applicable IRS Service Center where the corporation filed its original return.