Menu

Search

Knowledge Base


10492: Amended 990, 1041, 1065, 1120, 1120-S Returns and e-Filing


EF Generally

Can I e-file an amended return? How do I create and efile an amended 990, 1041, 1065, 1120, or 1120-S return? 

You cannot e-file an Amended 1040, or an Amended 706. An amended 1040 and amended 706 must be paper-filed. See Related Links below for more information. 

You can e-file these amended returns, for the current and past two years:

​Note: When e-filing an emended business return, the date on the EF Notice in View mode will still reflect the date of the original filing.  The submission ID will update to reflect the correct submission ID for the amended return.

 

Amended 990:

The following information is in FAQ M in the 990 package and in the Drake Software Supplement: Charities & Non-profits (990) (see "Drake Tax - Software User's Manual" in Related Links below).

An amended Form 990, 990-EZ, and 990-PF can be e-filed much the same as e-filing Form 990 or Form 8868. To e-file an amended return:

  1. Archive a complete copy of the original return, including all forms, schedules, statements, worksheets, etc. (See "Archiving a Return & Managing Archives" in Related Links below).
  2. Mark the check box on screen 1 for an amended return.
  3. Make all necessary changes to the return.
  4. Select Amended 990 on the EF screen.
  5. Complete the PIN screen.
  6. Follow the steps listed in FAQ item F  Electronic Filing.

The amended Form 990, 990EZ, and Form 990-PF, and all other required forms, schedules, statements, and attachments are included in the transmission.

 

Amended 1041:

The following information is in FAQ G in the 1041 package and in the Drake Software Supplement: Fiduciaries (1041) (see "Drake Tax - Software User's Manual" in Related Links below). 

To file an amended fiduciary return:

  1. Archive a complete copy of the original return, including all forms, schedules, statements, worksheets, etc. (See "Archiving a Return & Managing Archives" in Related Links below). 
  2. Open screen 1 and select the Amended return box in section F.
  3. Correct or add new information on the appropriate lines of the return.
  4. Re-figure the estate's or trust's tax liability.
  5. Return to screen 1 and click the Amended Expl link beside the Amended return box.
  6. On the Amended Changes screen:
    1. Enter the number of the line you changed.
    2. Describe the line you changed. (For instance, you might enter, "Interest Income" if you changed line 1 of page 1 of Form 1041.)
    3. Enter the previous and amended amounts.
    4. Enter an explanation.
  7. Press PAGE DOWN for another screen to explain another change.

If an amended return results in a change to income, distribution, or other information provided to a beneficiary, an amended Schedule K-1 must also be filed with the 1041 and copies given to each beneficiary. To have the program generate an amended Schedule K-1, go to the K1 screen and select theAmended K-1 box.

Note: ​If the total tax is larger on the amended return, taxpayers should generally pay the difference with the amended return.

 

Amended 1065:

Beginning in Drake10, amended partnership returns can be e-filed. You'll find the following information in FAQ T in the 1065 package and in the Drake Software Supplement: Partnerships (1065) (see "Drake Tax - Software User's Manual" in Related Links below).

An amended Form 1065 can be e-filed in much the same way as Form 1065 - you can e-file the current year and previous two years.

Note: To paper-file an amended 1065, use Form 1065X. Other uses of Form 1065X are described in the Instructions for Form 1065 and Instructions for Form 1065X. Form 1065X is an abbreviated form that resembles the 1040X. Drake does not generate a Form 1065X, but you can download it at IRS.GOV.

When you amend a 1065 return in Drake, the amended information replaces the original in the data file. Before amending a return, you should make a copy of the original to avoid losing previously submitted data.

  1. Make a complete copy of the original return including all forms, schedules, statements, worksheets, etc. Either
    1. Archive the return. (see "Archiving a Return & Managing Archives" in Related Links at the bottom of this page); or
    2. Make a back up of the client file and also print a hard copy or a PDF copy of the return.
  2. Go to screen in data entry and select Amended return in section G.
  3. Make all necessary changes to the return forms and schedules.
  4. Complete explanation on the SCH screen
    1. Statement number — 011 (1B in Drake14 and prior).
    2. Title — Enter a statement title of 28 or fewer characters.
    3. Explanation text box — Identify the amended items by line number and explain what was changed and why.
  5. Go to the EF screen and select Amended 1065 in the left-hand column.
  6. Complete the PIN screen.
  7. Follow the steps listed in FAQ item L: "Electronic Filing."

The amended Form 1065 and all other required forms, schedules, statements, and attachments are included in the transmission.

Note: When amending a 1065 return, all K-1s are amended, and the “Amended K-1” box on the return is marked, by default. To override this default, go to the PRNT screen and mark Do NOT check amended box on Sch. K-1.

See the Manual Supplement for partnerships subject to the TEFRA (Tax Equity and Fiscal Responsibility Act of 1982) audit rules.

 

Beginning in Drake10, amended corporate returns can be e-filed. You'll find the following information in FAQ F and S in the 1120 package and in the Drake Software Supplement: Corporations (1120) (see "Drake Tax - Software User's Manual" in Related Links below).

Form 1120X can be e-filed much the same as Form 1120 - you can e-file the current year and previous two years.

When you amend an 1120 return in Drake, the amended information replaces the original in the data file. Before amending a return, you should make a copy of the original to avoid losing previously submitted data.

  1. Make a complete copy of the original return including all forms, schedules, statements, worksheets, etc. Either
    1. Archive the return (see "Archiving a Return & Managing Archives" in Related Links below); or
    2. Make a backup of the client file and also print a hard copy or a PDF copy of the return.
  2. To amend a return not previously prepared in Drake, recreate the original 1120 return in Drake before opening screen X.
  3. Open screen X. Complete applicable fields on screen X using the steps listed in FAQ item F.
  4. Enter the amended data in the other appropriate screens.
  5. Calculate and view the return. Note the adjustments made on the Form 1120X.
  6. Select Form 1120X on the EF screen.
  7. Complete the PIN screen.
  8. Follow the steps listed in FAQ item H: "Electronic Filing."

The Form 1120X is included in the transmission, along with the changed Form 1120 and all other required forms and schedules.

 

Amended 1120S:

You'll find the following information in FAQ U in the 1120S package and in the Drake Software Supplement: S Corporations (1120S) (see "Drake Tax - Software User's Manual" in Related Links below).

When you amend an 1120S return in Drake, the amended information replaces the original in the data file. Before amending a return, you should archive the original to avoid losing previously submitted data.

An amended Scorp can be e-filed in much the same way as you e-file Form 1120S or Form 7004.

  1. Archive a complete copy of the original return including all forms, schedules, statements, worksheets, etc. (see "Archiving a Return & Managing Archives" in Related Links below).
  2. Go to screen in data entry and select Amended return in section H.
  3. Make all necessary changes to the return forms and schedules.
  4. Go to the screen and list the changes that have been made, along with an explanation for each change. Use a different screen for each line of the 1120S. Press Page Down to open a new screen.
  5. Select Amended 1120S on the EF screen.
  6. Complete the PIN screen.
  7. Follow the steps listed in FAQ item I: "Electronic Filing."

The amended Form 1120S and all other required forms, schedules, statements, and attachments are included in the transmission.

Note: When amending an 1120S return, all K-1s are amended, and the “Amended K-1” box on the return marked, by default. To override this default, go to the PRNT screen and mark Do NOT check amended box on Sch. K-1.


Related Links


Also In This Category


Details
Article has been viewed 28K times.
Last Modified: 4 Months Ago
Options