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Old 02-15-2010, 05:03 PM
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Final 1120S M-2 Reporting

Do I have to zero out the Accumulated Adjustment Account on the final 1120S?



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Old 02-15-2010, 10:08 PM
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Generally speaking, on the final S corporation tax return, the balance sheet would be zero'd out, but, the M-2 Accumulated Adjustment Account would not be zero'd out as there would be some reportable balance in this account.

I would not recommend that you zero the AAA account.

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