Discussion Archives:COD FOR S CORPORATION

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Discussion Forum Index --> Advanced Tax Questions --> COD FOR S CORPORATION

Discussion Forum Index --> Tax Questions --> COD FOR S CORPORATION

Ncscpa (talk|edits) said:

29 December 2010
An s corp received 1099C . How,Where we report 982 , insolvency sheet on form 1120s or should we have to rport 982 on 1040 since Income or loss will pass through share holders ,what about if mulitiple shareholders ?

I can't find those forms on proseries 1120S ?

Thanks all.

DaveFogel (talk|edits) said:

29 December 2010
Please complete your profile. For an S corp., the exclusions for COD income under Sec. 108 are applied at the corporate level, not the shareholder level. See IRC ยง108(d)(7). Don't know why Form 982 isn't included in ProSeries' 1120S module. Suggest that you call Intuit.
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