Which Tax Forms and Fields Does Tallyfor Work With?
Tallyfor works with the following IRS tax forms.
Form 1120, U.S. Corporation Income Tax Return.
Form 1120S, U.S. Income Tax Return for an S Corporation. Details
Form 1065, U.S. Return of Partnership Income.
1. All Income and Deduction lines on Page 1.
2. All end of tax year fields for Assets and Liabilities on Schedule L.
3. For 1120S Schedule K Sections.
Other nondeductible expenses Box 16c
Items Affecting Shareholder Basis
For certain tax lines, multiple rows are allowed. On the IRS tax form, these lines are indicated with "attach statement" next to the line name.
Tallyfor allows for import of multiple rows of the following Attached Statements.
If you wish data to show as individual rows in use the field mapping in ALL CAPS.
TAXES AND LICENSES
OTHER CURRENT ASSETS
OTHER CURRENT LIABILITIES
See details in this article.