Before you start, we recommend creating a copy of the original Form 1120 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. Refer to this resource for instructions on copying client returns in ProConnect Tax.
Follow these steps to amend a corporate income tax return:
- Go to Input Return ⮕ Miscellaneous Forms ⮕ Amended Return (1120X).
- Select Federal and General Information.
- Check the Amending federal return (MANDATORY) box.
- Enter a 1 in 1=amending state return (MANDATORY) {} if applicable.
- Scroll down to the Miscellaneous Information section and complete any applicable fields.
- Scroll down to the Income Tax Return section.
- Complete the AS ORIGINALLY REPORTED column with the amounts from the Form 1120 that were previously filed.
- Leave the CORRECT AMOUNT [OVERRIDE] column blank unless absolutely necessary. Any entry in this column will stop the program's automatic calculations.
- From the top of the screen, select the Explanation of Changes section and enter the Federal explanation of changes.
- This text will print on a statement with the return and be included in the e-file.
- Use the main input screens to make any applicable changes.
- For example, if amending to claim the Foreign Tax Credit, select Credits from the left-side menu and choose Foreign Tax Credit (1118) to enter the foreign taxes paid there.
- Go to the Check Return tab and verify that Form 1120X is generating the correct amounts.
If you're e-filing the amended return, be sure to print another Form 8879-C and obtain an officer's signature. You should keep the 8879-C from both the original return and the amended return for your records.
