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IRS audit adjustment

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Level 1

My client got audited and resulted in disallowed exp adjustment for prior year. How do I enter the information in form 1120 in ProConnect? 

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4 Replies 4
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Level 15

Why do you think you need to enter it?

Where do you think you need to enter it?

If you're preparing a 2019 tax return, prior year disallowed expenses are a nonissue for 2019.


ex-AllStar
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Level 15

But it would need to be entered if an amended state return is going to be prepared.😄

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.
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Level 15

I am adding to this thread only because I like this cascading thingy... until it doesn't work after, I think, the third response???

... if an amended return is going to be prepared for items other than the adjustments made by the IRS. 😈

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Still an AllStar
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Level 15
Some go long past a third response.
If the audit involved a reduction to cash on the balance sheet, that would have to be resolved?

ex-AllStar