Drake Tax - 1120-S: Form 2553

Article #: 10299

Last Updated: October 21, 2024

 

Tags: Drake Tax 1099S

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How to attach a copy of Form 2553 to an S corporation return

To generate Form 2553 in Drake Tax:

  1. Complete the 2553 screen.

  2. Select and print all pages of Form 2553.

  3. Have all shareholders sign the form.

  4. The form must be mailed or faxed to the IRS. See https://www.irs.gov/filing/where-to-file-your-taxes-for-form-2553 for the most up-to-date information.

Caution  Note that while the form can be generated and attached to the e-filed return, attaching it as a PDF does not satisfy the IRS guidelines for making the election. Per the instructions: "Generally, send the original election (no photocopies) or fax it to the Internal Revenue Service Center listed..."

If needed, the completed form can be attached as a PDF to the e-filed return. To do so,

  1. On screen 1, check the box Attaching Form 2553 as a PDF Document.

  2. Scan the signed Form 2553.

  3. Name the document "Form 2553.PDF" and save it somewhere easily accessible.

  4. Go to View/Print mode, and click the Attach PDF icon on the toolbar.

  5. Browse to and select the 2553 PDF.

  6. Click Open.

  7. A green check mark is displayed beside the form. The form is now attached and will be transmitted with the rest of the tax return.

  8. Recalculate the return to clear EF Message 1513.

For more information about the filing and notification process, see the Form 2553 Instructions. For a more general description of the attachment process see the Related Links at the bottom of this page.