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What Form Do I Use to File an Amended Business Tax Return?

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Question: What Form Do I Use to File an Amended Business Tax Return?
Answer:

How to Amend a Business Tax Return
Filing an amended return depends on your business type:

  • For a sole proprietor or single-member LLC filing on Form 1040X. This form includes changes to Schedule C. Changes to Schedule C will result in changes to Line 12. Use Form 1120x and make the appropriate changes on Line 12. Be sure to attach a copy of the amended Schedule C when you file the amended return.
  • To amend a tax return for a corporation, file form 1120x.
  • To amend taxes for an S corporation, create a copy of the original return (on Form 1120S), and check Box H-4 (Amended Return) on the copy. Then use the copy to ake the changes to the return, and re-file. If the change results in a change to shareholder information, you must also file an amended Schedule K-1 and give a copy of the amended K-1 to the shareholder. Make a copy of the original K-1 and check the correct box to indicate that it is an amended K-1. Then make the necessary changes.
  • To amend a partnership or multiple-member LLC return, make a copy of Form 1065 and check box G(5) on page 1. Attach a statement that identifies the line number of each amended item, the corrected amount or treatment of the item, and an explanation of the reasons for each change.

    If the Schedule K-1 on the partnership/LLC return is incorrect, or if the change to the 1065 causes a change in the information on the K-1, prepare an amended K-1. Check the "Amended K-1" box on the top of the Schedule K-1 to indicate that it has been amended. Then give the amended Schedule K-1 to the partner/member to file.

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