Form 1120-S With Schedule L
This service is intended for S corporations that require balance-sheet and book-to-tax reconciliation reporting in addition to the federal and Colorado income tax returns.
Compare S Corporation Preparation Options
Scope before checkout: Discussing payroll, shareholder basis or accounting issues on this page does not mean corrective work is included in the fixed fee. Payroll corrections, bookkeeping reconstruction and complex basis work require a separate scope review. Contact us before paying if these issues apply.
Organize your documents with our Colorado S corporation tax filing checklist.
| Scope | No balance sheet | With balance sheet |
|---|---|---|
| Service | No-balance-sheet return | Balance-sheet return |
| Included reporting | Federal Form 1120-S, K-1 preparation and electronic filing | Federal Form 1120-S, Schedule L, and Schedules M-1 and M-2 |
| Listed limits | Up to two shareholders and one state return | Up to two shareholders and one state return |
| Outside the listed scope | Schedule L, M-1 or M-2 reconstruction; bookkeeping cleanup; payroll corrections; multiple states; late-election or reasonable-cause work | Bookkeeping reconstruction; unreconciled accounts; payroll corrections; multiple states; complex basis studies or elections |
Review the current fee and full scope in the engagement section before paying. If your records need cleanup or you are unsure which service fits, contact CPA of Denver first.
Records to gather: the prior-year return, year-end financial statements, payroll reports, fixed-asset records, and shareholder contributions, distributions and loan records. For the balance-sheet service, include beginning and ending balance sheets and supporting account reconciliations.
For background, read the Form 1120-S guide and the Schedule L and balance-sheet guide.
When the Full S Corporation Return Is Appropriate
A more complete engagement may be appropriate when Schedule L, Schedules M-1 and M-2, balance-sheet reconciliation, or additional accounting review is required.
S Corporation Return — With Balance Sheet — Starting at $1,499
What is included
- Federal Form 1120-S
- Schedule L
- Schedules M-1 and M-2
- Up to two shareholders
- One state return
What is not included
- Bookkeeping reconstruction
- Unreconciled accounts
- Payroll corrections
- Multiple states
- Complex basis studies or elections
How the engagement works
- Confirm that your facts fit the listed scope.
- Accept the engagement terms and complete secure payment.
- Upload the requested documents through the secure intake process.
- Your return or filing is prepared and receives final CPA review.
- You review and sign all required authorizations before filing.
Begin this engagement
Live secure checkout: You will enter payment details on Stripe. Your card is charged only when you complete payment there.
Not sure this service fits? Schedule a consultation
Services are subject to identity verification, complete documentation, signed engagement terms, final CPA review, and signed filing authorization. Additional work outside the stated scope requires approval and may involve an additional fee.
Preparing the Balance-Sheet Records
Provide beginning and ending balance sheets with the supporting accounting records. Bookkeeping reconstruction and unreconciled accounts are outside this engagement’s listed scope; contact us before checkout if that work is needed.
Book-to-Tax Reconciliation
Preparation may involve reviewing the year-end balance sheet, retained earnings or accumulated adjustments, shareholder loans, fixed assets, depreciation, payroll accounts and other book-to-tax differences. Schedule M-1 and M-2 reporting may also require reconciliation with the underlying accounting records.
If your corporation does not require this additional balance-sheet work, see our primary Denver S corporation tax return preparation service. For educational information about Schedule L and the federal return, see our Form 1120-S guide.