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In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
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- ON CORPORATE TAX RETURN WHERE CAN I INPUT EQUITIES LIKE SHARE HOLDER DISTRIBUTION, RETAINED EARNING AND ORDINARY NET INCOME.
ON CORPORATE TAX RETURN WHERE CAN I INPUT EQUITIES LIKE SHARE HOLDER DISTRIBUTION, RETAINED EARNING AND ORDINARY NET INCOME.
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dmufeed
Level 2
03-11-2022
08:05 AM
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ON CORPORATE TAX RETURN WHERE CAN I INPUT EQUITIES LIKE SHARE HOLDER DISTRIBUTION, RETAINED EARNING AND ORDINARY NET INCOME.
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Karl
Level 8
03-11-2022
05:35 PM
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C-Corp or S-Corp?
On C-Corp, most of that will probably go in Screen 37 Balance Sheet. Net Income doesn't get "entered," you input income and expenses on Screens 13, 14, 20 and others as needed to calc net income.
On S-Corp, basis info mostly goes on Screens 8 & 9, but watch to make sure M-1 & M-2 populate correctly and adjust Screens 31 & 32 as needed. Same screen #'s for income & exp as C-Corp.
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