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Amend an S Corporation return

Follow these steps to amend an S Corporation return.
note
Before amending a return, you may want to maintain a record of the original return by copying the client.
  1. Go to the AmendS screen in the Separate Filings folder.
  2. Enter
    X
     in the
    Transfer original information
     field.
  3. If you prepared the original return in UltraTax CS, add a reason for the amended return in the statement window for the
    Explanation of changes
     field.
  4. Make the necessary changes in the input screens for the amended return. UltraTax CS marks the
    Amended return
     checkbox on the 1120S return, Page 1, and the
    Amended K-1
     checkbox on Schedule K-1, Page 1, then prints a statement for the reason for the amended return.
    note
    • Select the state from the
      Transfer state(s)?
       window if you're also amending the state return.
    • If you don't complete the fields in the Amounts As Previously Reported section after you enter
      X
       in the
      Transfer original information
       field, you need to preview the return before proceeding. Clear the
      Transfer original information
       field and select
      File
      , then
      Preview
      . Once you finish previewing the return, close the print preview and enter
      X
       in the
      Transfer original information
       field to transfer the information.

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