2011 Prosystem fx Tax Code Changes. November 2011

Transcription

1 2011 Prosystem fx Tax Code Changes November 2011

2 S-CORPORATION (1120S) NEW S DESCRIPTION M-3 DEFAULT 01A A /Deductions -> Business -> 1. 1 Merchant Card, Third-Party Payments Temporary 01A.01 A /Deductions -> Business -> Merchant Card, M-3 detail Temporary F01A F Specified Sales Items for Resale N/A F02A F Specified Sales Products Raised N/A F07A F Specified Custom Hire N/A F08A F Specified Other N/A Page 2 of 8

3 NOTE: Any TB Links to the following Tax Codes will need to be changed manually in the workpapers. S-CORPORATION (1120S) CHANGES DESCRIPTION A 01B A /Deductions -> Business -> 1. 2 Other Gross Receipts/Sales 01A.01 01B.01 A /Deductions -> Business -> Oth Gross Rcpts/Sales M-3 Detail 01B 01D A /Deductions -> Business -> 1. 3 Returns and allowances 01B.01 01D.01 A /Deductions -> Business -> Returns & Allowances, M-3 Detail A A01 A A A02 A A A03 A CGS-Beginning Inventory 2 CGS-Purchases 3 CGS-Cost of labor A A04 A CGS-Additional Sec 263A costs A A04.01 A CGS-Depreciation Sec 263A Page 3 of 8

4 S-CORPORATION (1120S) CHANGES DESCRIPTION A A04.02 A CGS-Amortization Sec 263A A A05 A CGS-Other costs A A05.01 A A A05.02 A CGS-Depreciation (for COGS) CGS-Amortization (for COGS) A A07 A CGS-Ending Inventory F F01B F-1 70 F F01D F-1 71 F F02B F-1 72 F05A F03A F-1 73 F05B F03B F-1 74 F06A F04A F Sales of Items Bought for Resale 3 Cost of Items Bought for Resale 5 Sales of Livestock/Products Raised 6 Total Cooperative Distributions 7 Taxable Cooperative Distributions 8 Total Agricultural Program Pymts Page 4 of 8

5 S-CORPORATION (1120S) CHANGES DESCRIPTION F06B F04B F Taxable Agricultural Program Pymts F07A F05A F CCC Loans Reported Under Election F07B F05B F Total CCC Loans Forfeited or Repaid F07C F05C F Taxable CCC Loans Forfeited/Repaid F08A F06A F Tot.Curr.Yr. Crop Insurance Proceeds F08B F06B F Taxable Curr.Yr. Crop Ins. Proceeds F08D F06D F Deferred Crop Insurance Proceeds F F07B F Custom Hire (Machine Work) F F08B F-1 84 F F F-2 30 F F F Other 1 Car and Truck Expenses 2 Chemicals Page 5 of 8

6 S-CORPORATION (1120S) CHANGES DESCRIPTION F F F Conservation Expenses F F F Custom Hire (Machine Work) Expense F F F Depreciation Not Claimed Elsewhere F F F-2 36 F F F-2 37 F F F-2 38 F F F-2 39 F F F-2 40 F F F-2 41 F23A F21A F-2 42 F23B F21B F Employee Benefit Programs 8 Feed Purchased 9 Fertilizers and Lime 10 Freight and Trucking 11 Gasoline, Fuel, and Oil 12 Insurance 13 Interest Expense - Mortgage 14 Interest Expense - Other Page 6 of 8

7 S-CORPORATION (1120S) CHANGES DESCRIPTION F F F-2 44 F F F Labor Hired 18 Pension and Profit-Sharing Plans F26A F24A F Rent and Lease Expense - Equipment F26B F24B F-2 49 F F F-2 50 F F F-2 51 F F F-2 52 F F F-2 53 F F F-2 54 F F F-2 56 F F F Rent and Lease Expense - Other 21 Repairs and Maintenance 22 Seeds and Plants Purchased 23 Storage and Warehousing 24 Supplies Purchased 25 Taxes 27 Utilities 28 Veterinary, Breeding, and Medicine Page 7 of 8

8 S-CORPORATION (1120S) CHANGES DESCRIPTION F F F F34A F32A F Other Farm Expenses 29 Amortization Page 8 of 8