Before you start:We recommend creating a copy of the original return to save the entries as they were filed; however, printing or e-filing from the copied return will incur a new charge. You'll want to make changes, print, and e-file from the original return, while saving the copy for your records. See Copying client returns in ProConnect Tax Online for instructions.
Follow these steps to amend a corporate return:
- Go to the Input Return tab.
- On the left-side menu, select Miscellaneous Forms.
- Click on Federal and General Information.
- Check the box Amending federal return (MANDATORY).
- Enter a 1 in 1=amending state return if applicable.
- Scroll down to the Miscellaneous Information section.
- Enter any items that apply.
- Scroll down to the Explanation of Changes section.
- Enter the Federal explanation of changes. This text will print on a statement with the return, and be included in the e-file.
- Scroll down to the Income Tax Return section.
- Complete the As Originally Reported column with the amounts from the 1120 that was previously filed.
- Leave the Correct Amount [Override] column blank unless absolutely necessary. Any entry in this column will stop the program's automatic calculations.
- Use the main input screens to make any applicable changes. For example, if amending to claim the Foreign Tax Credit, go to Credits > Foreign Tax Credit (1118) and enter the foreign taxes paid there.
- Efile amended business returns in ProConnect Tax Online
- How to amend a partnership return (Form 1065) in ProConnect Tax Online
- Frequently Asked Questions - Amended Returns
- 1120 - Entering a Capital Loss Carryback
- Trending Business Tax Returns Topics in ProConnect Tax Online
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